Alphavalue/DIVACONS | The technology company successfully closed a €20 million capital increase, with the aim of boosting its growth through international expansion in key markets such as the United States and China. In addition, it will seek to develop its intelligent robotics and aerospace and defence units, and will strengthen its R&D area to diversify into new sectors.
Alphavalue/DIVACONS | The oil company’s CEO, Jose Jon Imaz, criticised the government for “settling regulatory and fiscal policies in a bazaar” and urged to “raise our voices against the tax on energy companies”, assuring that it is “making investment in Spain impossible”. In other news, as we read on Monday in elEconomista, Ecopetrol has entered the sale of 45% of the Colombian oilfield CPO-09, which Repsol held in the country…
Link Securities | Iberdrola (IBE) has inaugurated on Thursday in Brittany the Saint-Brieuc wind farm in France, one of the first two in the country, with 496 MW of capacity and an annual production of 2 million megawatt hours (MWh), as reported on Thursday by Bolsamania.com. This will provide safe, indigenous and emission-free energy to nearly one million people. With an investment of €2.4 billion, the project began to be…
Link | CAIXBANK (CABK) has extended the service it provides with its mobile branches in 1H24 to guarantee financial inclusion to a total of 804 towns and cities, which is 27% more than the number of locations served by the financial institution’s mobile branches in the first six months of last year. CABK thus provides financial coverage with its mobile branches in towns where 340,000 people live, who, whether or…
Morgan Stanley | STEEL Alain Gabriel publishes today a recap presentation with the main figures and trends in European steel. His main OWs remain Arcelor and voestalpine (the latter he upgraded to OW last week) and Acerinox and Outokumpu in stainless steel. STEEL Arcelor- trades at a steep discount to its cyclical low multiple with normalised earnings and offers an interesting risk-return 12 months ahead. The new ebitda calculation perimeter,…
Santander | In a significant event, Abertis (BBB- e, BBB e) has announced that the Texas Department of Transportation (TxDOT) has decided to proceed with the repurchase of the SH-288 toll road in Texas, which has been owned by ACS Group and Abertis since November 2020. TxDOT will make a payment of $1.732bn, of which $520mn will be used to repay debt associated with the project, while Abertis will receive…
According to press reports, OHLA has been awarded in consortium the execution of lot 3 of the Salvador de Bahia tramway between Aguas Bravas and Piata (construction of a 10.5 km section, 8 surface stations, an interchange station and a viaduct) for €140 million. Assessment: Positive news with limited impact. This contract represents ~2% of the Construction project portfolio.
Link | Ferrovial announced on Friday that, in accordance with the authorisation granted by the General Shareholders’ Meeting of 11 April 2024, it has agreed to implement a share buyback programme, which will be executed in accordance with applicable law. The Programme will have the following characteristics: Purpose: To buy back own shares of FER in the framework of different corporate actions (such as, for example, share incentives for employees,…
Link | Iberdrola has received approval without objection from the Securities and Exchange Commission (SEC) for the purchase of Avangrid. The company expects the transaction to close by the end of 2024. The SEC has raised no objections to the merger prospectus for the acquisition of the 18.4% stake in Avangrid that IBE does not yet own. However, despite the SEC’s approval, the transaction is subject to obtaining all necessary…
Link Securities | BBVA (BBVA) placed on Wednesday €1 billion in a new twelve-year Tier 2 subordinated debt issue with a seven-year redemption option, according to Bolsamanía.com. The price was set at mid swap + 200 basis points, lower than the starting price (mid swap + 225 basis points). BBVA points out in its press release that the market response has been significant, with demand exceeding €3 billion at times,…