Relevant News Item

Companies, Relevant News Item 29th July 2025

Iberdrola to hold 20% stake in data centre management joint venture with Echelon

Link Securities | Iberdrola (IBE) has announced an alliance with Irish group Echelon to launch a bid to conquer the data centre market in Spain, according to a report in Monday’s edition of Expansión newspaper. Echelon is owned by the Starwood Capital fund, known in Spain for its major forays into the real estate sector, where it has recently been involved in multimillion-pound deals. The newspaper notes that Iberdrola had…

Companies, Relevant News Item 28th July 2025

Técnicas Reunidas selected alongside Sinopec to design green hydrogen complex in Saudi Arabia

Bankinter | It will be the largest green hydrogen complex in the world. It will be built in Yanbu and its client is ACWA Power (owned by the Saudi sovereign wealth fund). The first design phase (Feed) includes a facility for the production of 400,000 tonnes per year of green hydrogen (with 4GW of installed electrolysis capacity) and its conversion through synthesis cycles to green ammonia, as well as all…

Companies, Relevant News Item 28th July 2025

Sepi considering acquiring Talgo stake ‘without entering into any agreement with third parties’

Banc Sabadell | Sepi (the State Company for Industrial Investments) announced that it is considering acquiring a stake in Talgo (TLGO) ‘without entering into any agreement with third parties’. The transaction could involve a direct equity injection of 10% of the capital at €4.25 per share, with a substantial premium over Thursday’s closing price (43% more). In addition, it could also increase its weighting by subscribing to convertible bonds. Assessment:…

Companies, Relevant News Item 24th July 2025

Belgian operator SNCB confirms CAF as preferred bidder for €1.695-billion contract following challenges from Alstom and Siemens

Intermoney | The Spanish company (Hold, PO €45) announced yesterday to the National Securities Market Commission (CNMV) that Belgian operator SNCB has confirmed its bid as the best of those submitted. Although this confirmation was already known on 28 February, the award was challenged by Alstom and Siemens, arguing that CAF did not have any factories in Belgium, while Alstom has four plants and 1,900 employees in the country. After…

Companies, Relevant News Item 24th July 2025

Repsol exceeds consensus and fulfils commitments: earns €603 million and announces €350-million share buyback programme

Renta 4 | Repsol (REP) has published its results for Q2 2025, significantly exceeding our estimates and those of the consensus, both in EBIT (up 16% versus consensus) and in adjusted earnings (up 41% versus consensus), recording declines of 19% year-on-year and 18% year-on-year, respectively, reflecting the volatile environment of the quarter, with lower realisation prices for crude oil offset by higher gas prices in upstream and where the industrial…

Companies, Relevant News Item 23rd July 2025

ACS wins contract for data centres in US worth over €5 billion

Intermoney | ACS (ACS) (Buy, Target Price €63) has, through its US subsidiary Turner, secured a contract with US AI giant CoreWeave to build a data centre complex in the state of Pennsylvania, involving a total investment of around €5.2 billion, according to Expansión newspaper. Turner is partnering with local company Wohlsen on this contract. The two partners will build a facility with an initial capacity of 100 MW, expandable…

Companies, Relevant News Item 22nd July 2025

Competition Authority approves merger of Ercros and Esseco, under certain conditions

Link Securities | The Spanish National Markets and Competition Commission (CNMC) has authorised the acquisition of Ercros by Esseco on condition that the buyer terminates key agreements with the Korean group UNID and avoids exclusivity agreements with distributors of potash products, according to a report yesterday in the online newspaper elEconomista.es. The transaction, notified on 28 June 2024 and authorised in the second phase, consists of the acquisition of sole…

Companies, Relevant News Item 21st July 2025

Indra signs agreement with Finnish company Bittium to guarantee European sovereignty over critical Software-Defined Radio technology

Link Securities | The Spanish company and Bittium have signed a memorandum of understanding to cooperate in the development of Software Defined Radio (SDR) solutions, a key technology in defence modernisation, according to the digital portal Bolsamania.com. The aim of the agreement is to explore technology transfer from Bittium, while Indra will contribute its extensive experience and expertise in the field of SDR systems and waveforms. In addition, it will…

Companies, Relevant News Item 21st July 2025

Extraordinary dividend of €2.5 billion Sabadell wants to approve could give BBVA option to raise price of offer by same amount

Link Securities | BBVA executives have the option of modifying the terms of their bid to take control of Banco Sabadell, particularly the exchange ratio, which most analysts consider essential to make the offer attractive to the Catalan bank’s shareholders, given the current share price gap in Sabadell’s favour, according to today’s Expansión. The extraordinary dividend of €2.5 billion that Sabadell’s Board of Directors wants the bank’s Shareholders’ Meeting to…

Companies, Relevant News Item 21st July 2025

ACS to build new railway tracks in Virginia for €355 million, through FlatironDragados and American company Herzog

Intermoney | The Spanish multinational (Buy, PO 63€), through its subsidiary FlatironDragados, has been awarded a contract in the US to build new railway tracks in the state of Virginia for around €355 million, according to Expansión. ACS has won this contract in a consortium with the local company Herzog. The works will be carried out on the Franconia-Springfield bypass starting this month and will be completed in 2029. The…

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