ACS To Build Europe’s Biggest Photovoltaic Plant In Murcia
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.
Ibex
Bankia’s New Strategic Plan: Focused On Improving Shareholder Remuneration
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’s Services Division Also Breaks Into US Market Thanks To Broadspectrum
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 Buys A Canadian Company For $2 million
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 gets out of Gas Natural after over 20 years: agrees on sale of its 20.07 % stake at €19/share
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 Posts Net Profit Of €2.804 Bn (+3,7%); Positive Impact Of €1.284 Bn From US Tax Reform
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 Challenges: the Sale Of Its Gas Natural Stake And A Downward Correction
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.
SiemensGamesa Strategic Plan: On The Defensive More Than On The Attack
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.
Telefonica’s O2 Share Sale Finally Unblocked
The UK Court of Appeal has dismissed a demand from Three which blocked the new frequencies auction (planned for Autumn 2017), in turn blocking Telefonica’s share sale of O2. This is positive news for Telefónica as it means that it eliminates a practical hurdle for the company to be able to carry out the O2 share sale in the UK, raising funds to cut its debt.
Banco Sabadell Plans To Raise Its Presence In Mexico By 50%, Gain Efficiency In The UK
Banco Sabadell wants to grow in the UK and in Mexico, countries where it is already present, without making acquisitions. It aims to double its returns in those two markets.