How Telefónica cuts financial risks
MADRID | Telefonica basically focused on cutting down its risks by introducing extraordinary measures like asset sales and dividend cancellation. But indebtedness rates have fallen.
Companies
Iberia strike’s crazy sudoku
MADRID | By Carlos Díaz Güell | Some say the first step to solve a problem is to know what is it about. Although when it comes to Iberia, that has been having problems for more than two decades, it is not that simple. The once flagship Spanish airline had been denying its difficulties and its fundamentals rotted. Something that will be remembered in the history of aviation.
Shell buys Repsol’s LNG at $6.7 billion
MADRID | Shell will acquire the assets for $4.4 billion in cash and will assume $2.3 billion in financial leases ($1.8 billion) and debt ($0.5 billion in non-consolidated investments.) The deal reduces net debt by more than half (excluding Gas Natural Fenosa) to 2.2 billion euros.
Iberdrola sells wind energy division in Poland after Energa-PGE agreement
MADRID | The company sells its 75% stake in Iberdrola Renewables Polska, a holding which groups its wind power plants in Poland, as part of its divestment plans to be completed by 2015.
Ferrovial expands UK services market share with Enterprise acquisition
Ferrovial Services will double its presence in the country, where it operates through Amey. Enterprise will be integrated into Amey to create one company with over 21,000 employees and revenues in excess of 2.6 billion euro.
Basque government retains 10% stake in new Enagás
MADRID | The purchase includes 450 km of high-pressure gas pipelines and the international Irún connection.
Spanish Ferrovial-led consortium in British top list of private investors
LONDON | Heathrow company said it will deliver £248 million of savings to minimise airline charges by improving operational efficiency. It will retire old facilities such as Terminal 1 and invest in new facilities.
Bankia starts 2013 with 14,600 less property assets
MADRID | BFA-Bankia Group disposed of more than 5,600 foreclosed properties and subrogated 9,000 developer assets. Sales topped 1,600 million euros.
Telefónica becomes controlling stakeholder in Brazil’s largest e-health provider
MADRID | The acquisition makes Telefónica the first telecoms Group in Latin America to deliver end to end services in the e-health market.
Nissan chooses Barcelona
BARCELONA | The €130 million investment will represent the first sedan to be built in Nissan’s plant. The Barcelona plant will reach its maximum capacity.