Companies

Companies, In Europe 21st August 2023

Possible tax on motorway and airport concessionaires in France aims to raise around €2.5 billion between 2024 and 2030

Banco Sabadell| France is considering going ahead with its plan to raise taxes on motorway concessionaires in France and could now also include airport concessionaires. The aim would be to raise some €2.5 billion between 2024 and 2030. In addition, taxes could be raised on first class airline tickets, on larger vehicles because of their higher CO2 emissions, and on companies with fleets of vehicles. We recall that in June…

Companies 21st August 2023

Endesa to deploy more than 1,000 MW of wind power projects on its As Pontes plant site in La Coruña

Link Securities | The company has just received authorisation from the government to close its As Pontes (Coruña) thermal power plant, the largest in Spain, and will deploy a portfolio of wind power projects of more than 1,000 MW, most of which will be linked to industrial initiatives for the economic development of Galicia, according to Expansión today In a statement, Endesa also recalled that it has carried out a…

Companies, Relevant News Item 18th August 2023

Potential $7.8bn bid for US Steel would take 27% of ArcelorMittal’s EV and raise debt to ~0.8x DFN/Ebitda

Banc Sabadell | According to press reports, ArcelorMittal (MTS) is considering a bid for US Steel, although there is no certainty at this stage that the deal will go ahead. US Steel on Sunday rejected an offer from Cleveland-Cliffs that values the company at around $7.3 billion (~€6.7 billion) and represents a 43% premium on its share price. Also US steelmaker Esmark reportedly launched an offer of $7.8 billion (~€7.15…

Companies, Relevant News Item 18th August 2023

ACS’ US subsidiary wins $2.7 billion contract to build the Tennessee Titans’ new stadium

Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its US subsidiary Turner, is part of the TBA consortium, which has been awarded the construction of the new stadium for the Tennessee Titans football team in Nashville. This will involve an investment of $2.7 billion and will be located on the banks of the Mississippi River, next to the current stadium, according to Cinco Días newspaper on Friday. Other members of…

Companies, Relevant News Item 18th August 2023

Sacyr, Acciona and CAF, compete for construction and operation of Bogotá’s new Metro Line 2, with investment budget of €6.5 billion

Link Securities | The construction companies Sacyr (SCYR) and Acciona (ANA), together with the train manufacturer Construcciones y Auxiliar de Ferrocarriles (CAF), are competing against the large network of Chinese state-owned corporations to build and operate the new Line 2 of the Bogotá Metro in Colombia, the largest project in Latin America, with an estimated investment budget of €6.5 billion, according to Expansión. The city council of the Colombian capital…

Companies, Relevant News Item 17th August 2023

Urbas to receive initial €29.3m from sale of two blocks in Bilbao (€98m) after contract made public

Alphavalue/DIVACONS | The company is to receive in several instalments the nearly €98 million contract it announced last week with the British investment firm M&G Real Estate to sell it two blocks of new rental housing in Bilbao, under a “turnkey development” scheme. According to the company’s statement to the Spanish Securities and Exchange Commission (CNMV) on Wednesday, the initial payment, which will amount to 30% ( €29.3 million), will…

Companies, Relevant News Item 17th August 2023

Naturgy awarded €17.5-million contract to supply natural gas to prisons

Link Securities| Naturgy (NTGY), through Gas Natural Comercializadora, has been awarded the contract to supply natural gas to the penitentiary establishments of the General Secretariat of Penitentiary Institutions, attached to the Ministry of the Interior. According to the contract formalisation announcement, published in the Official State Gazette (BOE), the amount of the award is €17.5 million, as reported on Wednesday by Europa Press. The tender for the contract, which was…

Companies, Relevant News Item 16th August 2023

Iberdrola launches Carbon2Nature to develop high-impact nature-based solutions projects

Alphavalue/DIVACONS| The Spanish utility company has launched Carbon2Nature (C2N) with the aim of developing high-impact nature-based solutions projects that reduce the global carbon footprint, improve biodiversity and promote a sustainable economy, the energy company said. Iberdrola said the company was born out of the conviction that investing in nature is “essential to act against the climate and diversity crisis, while at the same time acting as a formula for creating…

Companies, In Spain, Relevant News Item 16th August 2023

Aena figures again exceed 2019 figures in July: 29.76 million passengers

Renta 4| Traffic figures for July exceed the figures recorded in 2019, after a month of June which for the first time in 2023 were below pre-pandemic levels, although these levels are below our forecasts, thus complicating the possibility of reaching the forecasts of 3% above 2019 for the year as a whole. Specifically, 29.76 million passengers were reached, equivalent to 101.2% compared to the same month in 2019, thanks…

Companies, Relevant News Item 14th August 2023

ACS awarded €353 million contract to upgrade infrastructure at Offutt Air Force Base in Nebraska

Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its North American subsidiary Turner, has been awarded a €353-million contract to upgrade the infrastructure of Offutt Air Force Base, in Nebraska. The work is aimed at improving the infrastructure at Offutt Air Force Base, located near Omaha in the state of Nebraska, in preparation for future flooding, after the facility suffered a flooding catastrophe in March 2019. A number of units…

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