Spanish energy Cepsa has acquired the rights to develop its first wind farm in Jerez (Cádiz) for an investment of 35 million euros. This the company’s first foray into the wind energy sector and diversifies its energy business. Cepsa is Spain’s fourth largest industrial group in terms of turnover.
Banco Santander earned attributable profit of € 5,077 M to Sept this year, a rise of 10 % compared to the same period last year after €515 million of one-off items. These are the first results presentation after Banco Popular integration last June.
CaixaBank is one of the two Catalan banks which recently moved its headquarters and its fiscal centre from Barcelona to Valencia, due to the p0litical crisis in Catalonia. In the first nine months of 2017, the lender obtained net attributable profit of 1.488 billion euros (up 53.4% from September last year), and its largest quarterly profit, with 649 million euros.
According to market sources, Tecnicas Reunidas has presented the most competitive offer to construct two gas projects tendered by Saudi Aramco. Other companies involved in the bid are Saipem and Samsung E&C. The result could be announced at the beginning of November.
Hochtief has launched a €18.76 cash or share offer on Abertis, raising speculation around a potential price war between Atlantia and Hochtief.
ACS has launched a competing bid for Abertis, via Hochtief, at €18,76 per share. It fits in with our forecast scenario that ACS would offer a higher price than Atlantia (€16,50/share, combining cash and shares which cannot be sold before February 15 2019) in its counter-bid for the Spanish concessionaire.
Yesterday, Colonial held its “Investor Day” during which it said it expects gross revenues from rentals to rise 2.9% to €279 million in 2017 from a year earlier. The real estate firm will also launch a new share buyback plan, worth €100 million,
Royal Bank of Scotland (RBS) will go ahead with the disposal of a substantial part of its SME banking business in the UK. The operation will be a complicated one and the British subsidiaries of Santander and Sabadell will participate in the bid process.
Abertis and Red Eléctrica are keeping talks open regarding an eventual corporate deal involving Hispasat. According to the press, Abertis, which holds 90.4% of the satellites firm, is asking for a control premium in addition to the valuation it made of the company in May.
When Carlos Slim agreed to take a stake in FCC in 2014, which was at that time controlled by Esther Koplowtiz, and in a lot of difficulties – sales on the decline, losses, debt…- a lot of people breathed easy thinking the Mexican businessman was going to put the builder back on the straight and narrow. But he is finding it difficult to relaunch the company.