Spain’s OHL lands in Australia
Companies
Adform opens shop in Spain after Italian job pays off
Defying the financial storm over the Club Med, Danish medium-sized online company Adform has now opened a branch in Spain. After it began serving the Italian market less than 10 months ago, Adform says it has experienced substantial growth or strong enough as to drive the firm to Southern Europe. Adform delivers campaigns for over 2,750 clients across 4,925 global web publishers in more than 25 countries worldwide. The company attributes its…
Good marks for BBVA’s €3.5-billion swap
The financial City of Madrid expects BBVA to close the bank’s gap in core capital required by Basel III, after the group’s board approved this week an offer of mandatory convertible bonds in exchange for €3.475 billion in preferred shares. Customers who hold the preferred shares distributed by BBVA in Spain will have the opportunity to exchange these at 100% of their nominal value for mandatory convertible bonds. The new bond, with…
Nokia Siemens Networks’ 17,000-job cut plan looms over workforce in Europe
Nokia Siemens Networks plans to reduce its workforce by 17,000 during the next two years. The firm, whose headquarters are based in Finland, did not provide further details, although according to the company’s financial report, net sales have suffered a fall since 2009 in the US, and the UK and Spain in Europe. While the US only represents 5pc of its global market, Europe accounts for a much larger 34%. Rajeev…
Ferrovial Agroman’s backlog in the UK, Ireland exceeds €1bn with Farrington deal
Gas Natural signs its largest liquefied natural gas supply contract in the US
Ferrovial Investor’s Day: “Visibility for the service business can rise hidden value”
Ferrovial held its Investor’s day on Tuesday in London. The event focused its attention on the Spanish firm’s services division (Amey, Cespa and Ferroser). Ahorro Corporación Financiera’s (ACF) analysts expect that Ferrovial will give more visibility to the services business, since “it could surface some hidden value in this unit or even generate new share price catalysts”. Experts argue that “after Swissport and Tubelines sale, 60% of the services’ EBITDA…
Ferrovial reaches to Eastern Europe
Ferrovial has now completed the purchase of Poland’s Przedsiebiorstwo Napraw Infrastruktury (PNI), specialised in civil engineering and railway design, construction and maintenance. The Spanish firm said the cost was close to €51 million euro or 225 million zlotys. Ferrovial, which is the owner of BAA in the UK, carried out this operation through Ferrovial Agroman’s Polish subsidiary Budimex. Alejandro de la Joya, CEO of Ferrovial Agroman explained why the company is interested…
FCC’s foreign income exceeds domestic for the first time in its history
Report by Julia Pastor, in Madrid | FCC has obtained €178 million in the first nine months of 2011, which means a 6,9% less than in in the same period of 2010, according to a Friday’s company press release. Nevertheless, FCC’s internationalisation process, with a growing income from foreign markets of almost 9,9% reaching €4.309 billion, represents a milestone in FCC’s 100 years history: for the first time, income coming…
Repsol YPF makes largest oil discovery in its history
MADRID | Repsol has found in Argentina new reserves equivalent to YPF’s. The site is located in Argentina’s Neuquén province in the region known as Vaca Muerta, with a total area of 30,000 square kms, of which Repsol YPF has 12,000 square kms. The company has confirmed the existence of large volumes of unconventional oil in the area of Loma La Lata. These resources would transform the energy potential of…