Iberdrola agrees to acquire majority stake in three DP Energy projects on the east, west and south coasts of the country, which will be eligible for the forthcoming offshore auctions in 2025-2030.The company already operates offshore wind farms in UK and German waters, with new developments in the UK, US and France · Including Ireland, Japan, Sweden and Poland, Iberdrola’s offshore wind pipeline now exceeds 30 GW.
Santander, BBVA, CaixaBank, Bankia, Sabadell and Bankinter posted combined losses of €5.55 Bn last year, with their accounts badly affected by the coronavirus, compared to the more than €13.5 Bn achieved in 2019. These negative figures are mainly due to the great losses suffered by Santander, €8.77 Bn, the first of its history, compared to the €6.51 Bn it earned in 2019. Santander’s losses came after increasing provisions for the covid-19 crisis and assuming an impairment of €12.6 Bn in the value of its subsidiaries in the UK, the US and Poland.
Telefónica and Liberty Global reached an agreement in early May last year to merge their UK businesses and create the market-leading fixed and mobile operator in the country. According to the UK Competition and Markets Authority (CMA), the combination of Telefónica subsidiary and Virgin could lead to higher prices for wholesale fiber and mobile services. Thus they announced an investigation into the merger and its possible consequences before giving the go-ahead to the deal.
Global InfraCo, owned by Australian fund IFM Global Infrastructure, has announced a voluntary and partial tender offer for up to 220 million shares in Spanish energy company Naturgy, representing 22.69% of the firm’s share capital. The offer price is €23 per share, which is a premium of 28.9% over the volume weighted average price of Naturgy shares for the last six months and 19.7% over Naturgy’s share price at yesterday close. For Bankinter’s analysis team, the offer is “attractive for minority shareholders”.
Grifols has announced that its anti-SARS-CoV-2 hyperimmune globulin has started a clinical trial to test its safety, efficacy and tolerability. This medicine provides a consistent concentration of purified neutralizing antibodies and could be used for both prevention and treatment of the disease. The clinical trial is the latest phase of an initiative that goes back to March when Grifols started work on its anti-SARS-CoV-2 hyperimmune globulin as part of a collaboration with U.S. government agencies.
Solaria, one of the few Spanish listed companies dedicated exclusively to solar photovoltaic generation, has closed a PPA agreement, in its financial form, with Shell Energy, which is the largest signed by the company to date. In addition, its price has revalued 44% in the last three months tahnks to the recent entrance in Solaria’s share capital of iShares, Invesco and the increase in BlackRock’s holding. However, analysts find its valuation is not justified.
Renta 4 | Telefónica announced today that it has signed an agreement with American Tower to sell Telxius’ tower business in Europe (Spain, Germany) and LatAm (Brazil, Peru, Chile and Argentina). The price of the deal is 7.7 billion euros, payable in cash. It includes the sale of some 30,722 sites to be carried out in two separate operations. Although American Tower still has little exposure in Europe (some 30,000 towers after the Telxius purchase), it represents the main threat to the leadership position of another Spanish company, Cellnex, with over 103.000 sites
The shares of IAG, Iberia’s parent company, were the most traded by Spanish investors in 2020, said the European online broker Degiro, while Tesla Motors’ shares were the most traded in Europe this year. IAG’s shares are followed by Banco Santander’s, the Chinese electric vehicle company NIO (listed on the New York Stock Exchange) and the US manufacturer Tesla, on the Nasdaq.
The consortium formed by Abertis and Manulife Investment Management, a institutional infrastructure investor, have acquired from Macquarie Infrastructure Partners II and Skanska a 100% stake in Elizabeth River Crossings , in Virginia (US). The deal was closed for a total equity amount of €1bn. Within the consortium Abertis will hold 55.2%.
The boards of directors of Unicaja and Liberbank finally approved the merger of the two lenders. Unicaja will control 59.5% of the resulting entity, while Liberbank will own the remaining 40.5%. This operation creates the fifth largest national banking group, which will start operating from June, with an asset volume over €108 Bn. For Bankinter’s analysts, the deal a priori makes strategic sense in terms of scale and diversification, as well as financial sense (efficiency and profitability). But the key is in the details.