Relevant News Item

Companies, Relevant News Item 8th April 2026

Telefónica sells Mexican subsidiary for €389 million

Telefónica has sold its entire stake in Telefónica México to the Melisa Acquisition consortium—comprised of Oxio and Newfoundland Capital Management—for an amount of $450 million US (approximately €389 million), as reported late Tuesday to the National Securities Market Commission (CNMV). The transaction is being carried out through Telefónica Hispanoamérica, a company 100% owned by the group, and includes the sale of 100% of the capital of the companies Pegaso PCS…

Companies, Relevant News Item 7th April 2026

Talgo wins contract worth €485 million to supply 10 locomotives and 91 passenger carriages in Sweden

Renta 4 | Talgo (TLGO) has been awarded a contract in Sweden to supply 10 locomotives and 91 passenger carriages worth €485 million, according to press reports. The trains are due to enter service from 2030 and the locomotives could be supplied by Siemens. Assessment: Positive news. The award raises the order book to historic levels of over €6 billion, with the contract value representing around 10% of Talgo’s order…

Relevant News Item 1st April 2026

Spain’s manufacturing PMI returns to contractionary territory, falling to 48.7 points in March

CdM | Spain’s manufacturing sector has slipped back into contraction territory in March, according to the PMI index, against a backdrop of significant geopolitical uncertainty, as the war in the Middle East dashed hopes of a short-term improvement seen in February. “Both production and new orders fell, whilst confidence plummeted in the face of hostilities in the Middle East. Companies are extremely concerned about the prospect of a prolonged global…

Companies, Relevant News Item 30th March 2026

Aena moves to final stage of tender process to manage Rio de Janeiro-Galeão International Airport

Alphavalue/Divacons | Aena (AENA) has advanced to the final stage of the tender to manage Rio de Janeiro-Galeão International Airport (GIG), consolidating its expansion in Brazil. The company is competing with Vinci (buy, target price €190/share) and Zurich Airport for this second Rio airport, seeking to strengthen its network, which already includes 17 airports in the country. Meanwhile, Aena’s airport network expects to handle 70,505 flights between this Friday and…

Companies, Relevant News Item 30th March 2026

Acciona wins €111 million contract—one of largest in Italy—to modernise Naples wastewater treatment plant

Link Securities | Acciona (ANA), through its water division, has strengthened its position in Italy with one of its largest contracts in the country, according to the newspaper elEconomista. Acciona leads the consortium that has been awarded the contract to modernise the Naples East wastewater treatment plant in Campania. The project is worth €111 million. Acciona heads the winning consortium, which includes its local partners Fisia Italimplanti and Ottogas. The…

In Spain, Relevant News Item 27th March 2026

11,104 social housing units built in Spain in 2025, 23% decrease

According to data published by the Ministry of Housing and Urban Agenda, only 11,104 new social housing units (VPO – Viviendas de Protección Oficial) were completed in 2025, a 22.7% decrease compared to 2024. This represents a reduction of just over 3,000 homes. Despite promises from President Sánchez—who committed to building over 180,000 homes during the 2023 elections—and despite the creation of a Ministry of Housing and a consensus among…

Relevant News Item 26th March 2026

Renfe allocates €1.777 billion for purchase of 40 next-generation AVE trains

Renfe’s Board of Directors has approved an investment of €1.777 billion for the acquisition of up to 40 trainsets. This order was previously announced in November by the Minister of Transport, Óscar Puente, and has now been reactivated after a two-month halt following the Adamuz accident. The purchase will be structured as an initial order of 30 trains for €1.362 billion, plus an option for an additional 10 units. These…

Companies, Relevant News Item 25th March 2026

Grifols to evaluate potential U.S. IPO for part of Biopharma business, but retaining control of listed subsidiary

Renta 4 | According to a regulatory filing, the Board of Directors will begin evaluating a potential U.S. IPO of a minority stake in Grifols Biopharma US. The parent company would remain listed in Spain and retain control of the U.S. business. The transaction would allow the company to raise capital to strengthen the group’s balance sheet and reduce debt (which stood at 4.2x debt-to-EBITDA at the end of 2025)….

Companies, Relevant News Item 24th March 2026

Puig Brands in talks with Estée Lauder regarding potential merger: resulting company could have market capitalisation exceeding €35 billion

Renta 4 | According to a regulatory announcement issued by the company itself, it is in talks with Estée Lauder regarding a potential merger. According to the same information, no decision has been taken and no agreement has been reached at this stage, and neither the transaction nor its terms can be guaranteed. If the deal goes ahead, the resulting company could have a market capitalisation exceeding €35 billion, with…

Companies, Relevant News Item 23rd March 2026

Repsol secures 42 new exploration licences in Alaska, working alongside Shell with 30% stake

Banco Sabadell | Repsol has been awarded 42 new exploration blocks in the latest federal licensing round in Alaska and will participate alongside Shell in a partnership in which Repsol will hold a 30% operating interest. Assessment: Positive news, albeit of limited impact, reflecting Repsol’s commitment to North America, particularly Alaska. We note that Pikka would be one of the largest conventional onshore discoveries in the US, where the company…

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