Aena may be studying the possibility of increasing its stake in the UK’s Luton airport (it has a preferential option) after its current partner, the fund Ardian, has shown interest in getting rid of its stake.
Bankia Chairman, José Ignacio Goirigolzarri, has fuelled M&A rumours after saying in an interview with the FT that the bank “fits perfectly with other large Spanish banks, specially BBVA.”
ACS, via its Cobra subsidiary, will build a photovoltaic plant in Mula (Murcia) with 500 megawatts of power which will become the biggest in the whole of Europe in terms of its size.
Bankia’s 2018-2020 strategic plan is forecasting a significant increase in profits, the distribution of nearly half of these profits to shareholders and improvments in various profitability and efficiency measures.
Ferrovial has succeeded breaking into the US market with its services division as well, thanks to the business Broadspectrum has brought it in that country. It bought Broadspectrum two years ago in Australia.
Viscofan, the Spanish manufacturer and distributor of casings for meat products, has announced the acquisition of 100% of Transform Pack Inc from a group of private investors and the province of New Brunswick (Canada) for $2 million in cash.
Repsol has reached an agreement to sell its 20.072% stake in Gas Natural to Rioja Bidco Shareholdings, a company owned by funds advised by CVC. The sale price was 3.8 billion euros and the transaction will provide the oil company with approximately 400 million euros of capital gains.
Iberdrola reported net profit of 2.804 billion euros in 2017, up 3.7% from a year earlier. Consolidated EBITDA fell by 7.8% to 7.318 billion euros last year. The results were impacted by the US tax reform and difficult operating conditions in Spain.
Repsol’s sale of a 20% stake Gas Natural to CVC is near to being closed. The current value at market prices of 20% of Gas Natural is 3.708 billion euros. Furthermore, the stock has fallen nearly 6% in the year due to last markets turmoil. After its recent downward correction, Repsol’s stock price is back at an advantageous entry level.
Yesterday, SiemensGamesa presented its strategic plan to 2020, baptised L3AD2020. The new strategy is centred on cost savings of 2 billion euros which will allow it recover margins (EBIT/sales) to around the 8/10% level.