Companies

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Repsol’s Butano Chile sale cuts group’s debt by $317 million

MADRID | Repsol on Thursday said it had reached an agreement with a consortium of Chilean investors, led by LarrainVial, for the sale of 100% of its subsidiary Repsol Butano Chile. The operation was valued at approximately $540 million. Repsol Butano Chile holds a 45% stake of Lipigas, a company present in the Chilean liquified petroleum gas commercialisation market in addition to other financial assets. The deal will generate a net…


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CAF’s Spanish trains travel along the rails of all over the world

By T.F, www. expansion.com | The Spanish multinacional Construcciones y Auxiliar de Ferrocarriles (CAF), experts on design, manufacture, maintenance and supply of equipment and components for railway systems, has been able to weather the current economic turbulences by means of an ambitious internationalisation plan that started in 1995. This bet on the outside market has enabled the company to take advantage of the worldwide boom of railway transport, a sector…


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Ferrovial to construct in Spain 325km-gas pipeline network for Endesa

MADRID | Ferrovial announced its construction subsidiary Ferrovial Agroman has been awarded several contracts to build 325 kilometres of gas pipeline in Spain for Endesa Gas. The contracts are worth €35 million in total. From 2012 until 2014, Ferrovial Agroman will build gas pipelines in the regions of Valencia, Castilla y León and the Balearic Islands. The infrastructure company said Ferrovial Agroman will execute 75 kilometres of gas pipeline in Alicante. In Castilla…


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Barclays’ Spanish division under suspicion over dividend tax fraud

By Julia Pastor, in Madrid | Problems for Barclays are multiplying. Added to the Libor scandal in the United Kingdom and the United States, it has been revealed on Monday morning that the Spanish ministry of Finance is performing a fiscal investigation on the bank’s national subsidiary practices of dividend or coupon tax fraud. According to the daily Expansion, which has the scoop, Barclays Capital would have started to avoid…


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The market gives approval to Inditex’s Spanish VAT defiance

MADRID | The Inditex Group announced this week that it would completely absorb the increase in VAT from 18% to 21% that the Spanish government will carry out as one of its austerity measures to sustain the State's levels of income. But Inditex said it would not increase the prices of its products. In fact, this counter-price policy will extend to all of the Inditex Group’s chains, from Zara, to Pull&Bear, Massimo…


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Iberdrola sells Energetix, NYSEG Solutions in the US to UK’s Centrica

MADRID | Spain's Iberdrola today announced an agreement by which Iberdrola USA will sell to Direct Energy the 100% of its unregulated gas and electricity retail companies Energetix and NYSEG Solutions, both based in New York State for $110.2 million. The two companies in the process of being sold provide electricity, natural gas and energy related products and services to residential, small business, large commercial and industrial customers. As of the end…


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Seven world mobile operators join alliance against fragmented M2M market

MADRID | A total of seven world mobile operators, KPN, NTT DOCOMO, INC., Rogers, SingTel, Spain's Telefónica through its Telefónica Digital unit, Telstra and Vimpelcom have entered into an alliance to initiate collaboration with respect to their machine to machine or M2M businesses. According to their public announcement, “the important scale resulting from the cooperation of this group of operators will be of the utmost importance in addressing the complex and fragmented nature of M2M market.” More specifically, the alliance covers technological cooperation to enable…


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Admiralty Arch to become Spanish-owned hotel next to Buckingham palace

how can i get my ex girlfriend back LONDON | Trafalgar Square's entrance towards Buckingham Palace has reportedly been sold to Spanish financier Rafael Serrano, whose plans for the London landmark involve a hotel. According to sources talking to The Times in London and Cinco Días in Madrid, Serrano bid £60 million (€75 million) for the listed building through his investment arm Prime Investors Capital. The British government aimed at…


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The majority of Repsol shareholders opt to be paid dividend in shares

MADRID | A total 63.64% of Repsol shareholders opted to be paid the final dividend from 2011 earnings in shares, the Spanish company reported Friday. This is the first time that Repsol has opted for a flexible dividend which allowed shareholders to choose between newly-issued shares or a cash dividend through the sale to the company of free allocation rights. These results reflect shareholder’s interest in the company’s 


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Santander branded best global bank in Euromoney’s Awards

LONDON | Spain's giant Santander must be doing something right. Santander was named best global bank while Deutsche Bank was awarded the title of best global investment bank at Euromoney’s Awards for Excellence ceremony in London last night. The best global bank award was collected personally by Santander’s chairman, Emilio Botín, a gesture that probably intended to demonstrate his UK shareholders and clients that the British branch have a top place…