Ibex 35 Financial Markets

Ibex

Ibex, Markets, Spanish economy 28th October 2020

Repsol Leaves Ecuador After The Sale Of Its Assets To Canadian Firm New Stratus Energy For €5 M

Repsol has reached a good intentions agreement with the Canadian company New Stratus Energy for the sale of assets in Ecuador, so that the oil company will leave the South American country, where it has been present for almost twenty years. The deal amounts about $5 M (about € 4.2 M) to be paid in two installments, although there could be additional contingent payments linked to certain circumstances, such as an extension of the service contracts term, which would bring it up to $12 M (about € 10.1 M).

Ibex, Markets, Spanish economy 26th October 2020

Cellnex Extends Its International Expansion To Poland, One Of The Strongest Economies In Eastern Europe

Following Cellnex’s recent capital increase of 4 billion euros, the company has reached an agreement with Iliad to acquire a 60% controlling stake in the company that will operate Play’s 7,000 telecommunications sites in Poland. The agreement between Iliad and Cellnex is expected to be closed by Q2 2021. It will allow the company to enter a new market and further consolidate its leadership position in Europe, where it will reach 73,000 telecommunication towers.

Ibex, Markets, Spanish economy 21st October 2020

ACS’ Australian Subsidiary, Cimic, Sells 50% Of Its Mining Business For €1.25 Bn

Cimic, of which ACS indirectly controls 37% through its Hochtief share, has announced the sale of 50% of Thiess, its mining business, for 1.25 billion euros to the Elliott fund. The price implies an enterprise valuation of approximately A$4.3 billion (based on 100% of Thiess), subject to certain adjustments. According to calculations of Bankinter, the price paid is a multiple of 8.5 times EV/EBIT20, “which is in accordance with the market average for this type of company.”

Ibex, Markets, Spanish economy 20th October 2020

Aena Seeks Paths For Growth Abroad: Pre-Qualified For An Airport In Indonesia

With the summer season over, the fall in traffic at Spanish airports has increased. In September traffic contracted by 79.9% to 5.46 million passengers compared to August – the accumulated drop for the year is -69.7%. However, Aena is trying to open up other growth channels through international expansion. To this end, it has announced it will bid for an airport in Indonesia.

Ibex, Markets, Spanish economy 16th October 2020

Endesa Proposes Receiving €16 Bn from European Funds To Mobilise €19 Bn In Investments

Endesa has put forward 110 projects eligible for the EU recovery fund. The whole of these projects would mean a total investment of 19 billion euros (53% of its Enterprise Value and 75% of its capitalization). So the company is requesting 16 billion euros (85% of implicit leverage) from the EU recovery funds. Member countries can submit proposals from today until April 30th, 2021.

Ibex, Markets, Spanish economy 14th October 2020

Naturgy Ends Months Of Disputes With Sonatrach Through A Deal To Cut Price Of Gas Supplies

Spanish gas firm Naturgy has secured its gas supply for the next 20 years at a price lower than the current one. The news comes after Prime Minister Pedro Sánchez’s institutional visit to Algeria. In the wake of this, Naturgy has signed off on the end to the disputes with Algerian state group Sonatrach. At the same time, it has agreed new contracts with the group valued at 20 billion euros over the next two decades.

Telefónica to reduce its reliance on Huawei

Ibex, Markets, Spanish economy 14th October 2020

Telefonica Is Creating A Subsidiary To Invest In Fiber In Germany

Banco Sabadell | Telefónica is in the final stages of negotiating an agreement to set up an independent company, which would be responsible for the deployment of a fiber optic network in Germany. The investment in the project is about 5 billion euros. Telefonica would structure the project through its subsidiary Telefonica Infra, which plans to sign an accord with an infrastructure fund and a group of financing banks around the end of October.

Ibex, Markets, Spanish economy 9th October 2020

Repsol’s Production In The 3Q20 Reached 615,000 b/d, Down 13.5% Compared To The Same Period Of 2019

Repsol reached a production of 615,000 bpd, which represents a decrease of 13.5% compared to the same period last year and 3.8% compared to the previous quarter, mainly due to the US (Marcellus and Eagle Ford). The refining margin, an important indicator for the downstream business, averaged a negative $0.1 per barrel in 3Q20. This level reflects the impact of the worldwide uncertainty caused by the coronavirus crisis. This indicator in the previous quarter was $ 3 per barrel, while in 3Q19 it was $ 5.5.

Ibex, Markets, Spanish economy 8th October 2020

The Ibex Has 35 Stocks Again With The Entry Of Solaria

Bankinter | The Ibex 35’s Technical Advisory Committee has decided to integrate Solaria to the index. It announced the exclusion of MasMovil last September before the takeover bid launched on the company. With this move, the Ibex, which has been temporarily composed of 34 companies, is now complete. Solaria comfortably meets the minimum capitalization criteria and presents very high levels of negotiation. The firm covers the entire solar energy value chain from wafer production to solar parks management.

Ibex, Markets, Spanish economy 7th October 2020

Acciona Is Awarded Line 6 Of Sao Paulo’s Underground Valued At Some €2.3 Bn

Acciona has formalized the agreement to take over the concession to construct, maintain and operate the São Paulo Metro line 6 (or Orange line). The company signed the agreement for the transfer of the concession, along with the Brazilian consortium MOVE, which had been previously in charge of the project, and the Brazilian State of São Paulo. The project is valued at €2.3 billion (R$15 billion). Once complete, Line 6 will serve 600,000 passengers per day.

« 1 … 30 31 32 33 34 … 95 »