Companies

Companies 20th November 2025

Trump’s executive order to reduce tariffs on Canadian steel and aluminium would impact ArcelorMittal’s EBITDA by $300 million maximum

Renta 4 | Trump has signed an executive order that would allow the Department of Commerce to reduce tariffs on steel and aluminium from 50% to 25% for Canada, provided certain conditions are met. We recall that Trump imposed a 50% tariff on imports from Canada on 1 April. The impact of the tariffs is around $150 million/quarter at EBITDA level, although we believe that ArcelorMittal would be passing on…

Companies, Relevant News Item 20th November 2025

Banco Sabadell pays 300 shares promised to 14,000 employees if BBVA takeover bid failed

Link Securities | On Wednesday, the Catalan bank paid each of its employees 300 shares, as promised by management if BBVA’s takeover bid failed, according to the digital newspaper elEconomista.es. According to Europa Press, Sabadell has invested €13 million in the purchase of this remuneration package. The bank has 14,000 employees, mainly in Spain, the US and Mexico. The total package amounts to 4.2 million shares. Sabadell has confirmed that…

Companies 20th November 2025

Mexican group Asur outbids Aena for 20 airports in Brazil

Alphavalue / Divacons | The airport operator will have to look for other growth opportunities in Brazil, as the 20 airports that Motiva 8 (formerly CCR) had put up for sale have been awarded to the Mexican Airport Group (Asur) for 5 billion Brazilian reais (€809 million). The sale agreement was signed yesterday. Almost all of them are located in Brazil (17), although there are also airports in Ecuador, Costa…

Companies 19th November 2025

Cirsa acquires 50% of Gran Casino de La Mamounia in Marrakesh

Alphavalue/ Divacons | The gaming company, through its subsidiary Cirsa International Business Corporation, has acquired 50% of the Grand Casino de La Mamounia in Marrakesh (Morocco), according to a statement released yesterday. The casino is located in the Hotel La Mamounia, one of the most renowned luxury establishments in Africa. This comes just two months after the agreement of intent to acquire four other establishments in Peru and the desire…

Companies 19th November 2025

BBVA’s New Year’s resolution: €6 billion share buyback

Jefferies | Following the third quarter, we have raised our 2026/2027 earnings forecasts for MSD thanks to improved revenues, mainly in Spain and Mexico, and we believe that BBVA (BBVA) is on track to achieve the medium-term targets announced in the first half of 2025. We are 4% above the 2027 earnings forecasts. We believe BBVA will announce a €6 billion share buyback in its 2025 results (subject to ECB…

Companies 19th November 2025

Covalis Capital increases Acerinox stake by 4.076% to 10.14%

Banc Sabadell | According to National Securities Market Commission (CNMV) records, Covalis Capital has increased its stake in the last month by 4.076% to 10.14% through financial instruments from the 6.06% it held in the same way in September this year. Assessment: Positive news with limited impact that would confirm the more positive sector environment for 2026, where new tariff regulations in Europe should boost prices and volumes in the…

Companies 19th November 2025

FDA approves expansion of Grifols’ Thrombate III indication to include paediatric patients

Link Securities | Grifols (GRF) announced that the US Food and Drug Administration (FDA) has approved the expansion of the indication for Thrombate III, the company’s antithrombin III concentrate, to include paediatric patients diagnosed with hereditary antithrombin deficiency (HAD), according to Bolsamanía. With this expansion, Thrombate III becomes the first and only antithrombin concentrate approved for adults and paediatric patients with HAD, an often underdiagnosed blood clotting disorder that could…

Companies 18th November 2025

Revenga Smart Solutions requests extension of insolvency proceedings to continue negotiating entry of investment group into company’s shareholding structure

Renta 4 | According to an official statement, Revenga Smart Solutions has requested additional time from the Commercial Court to continue negotiating the entry of an investor group into the company’s shareholding structure. To this end, they would have the support of creditors representing more than 59% of total liabilities. The potential investor group has shown interest in acquiring a significant stake in the company, which gives the viability plan…

Companies 18th November 2025

Santander to redeem €1.033 billion in Cocos in advance, corresponding to 2020 issue

Link Securities | The bank announces that it has agreed to proceed with the voluntary early redemption of all outstanding Contingently Convertible Tier 1 Preferred Shares ‘4.375% Non-Step-Up Non-Cumulative Contingent Convertible Perpetual Preferred Tier 1 Securities’ (ISIN XS2102912966) outstanding, for a total nominal amount of €1.033 billion, which are traded on the Irish Stock Exchange’s Global Exchange Market (PPCC). The early redemption of all PPCCs, which has been authorised by…

Companies 18th November 2025

Government to request seat on Talgo board after acquiring 8% stake through SEPI

Alphavalue/DIVACONS | The Minister of Transport and Sustainable Mobility, Óscar Puente, announced on Monday that the government will request a seat on the board of directors of Talgo (TLGO), after the state, through the State Industrial Holdings Company (SEPI), acquired an 8% stake in the company.

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