The consortium formed by ACS (with 24%), SNC Lavalin, Aecon, Pomerleau and EBC, has been chosen to design and build an automatic train (an underground train without a driver) for the metropolitan area in Montreal, Canada. The contract is worth 825 million euros.
The European Investment Bank (EIB) has approved a 1.5 billion euros loan – the biggest in its history – for the construction of the Trans Adriatic Pipeline (TAP), an around 878 kilometres project which will link Turkey with Italy, and in which Spanish firm Enagás is involved.
Spain’s Competition Authorities will decide tomorrow whether it will authorise ACS’s bid for Abertis (Atlantia’s offer is already approved). There is also the question of what will happen to Hispasat, a strategic asset for Spain, in which Abertis holds 91%.
Banco Santander announced earlier this week that it posted profits of 6.619 billion euros in 2017, up 7% from a year earlier: BBVA published its results yesterday, with profits rising 1.3% year-on-year to 3.519 billion. Ten years on, have the two banks recovered from the global financial crisis?
Spain’s second largest bank BBVA generated a net attributable profit of €3.52 billion (+1.3%) in 2017. Without taking into account the impairment losses from Telefónica, net profit for 2017 stood at €4.64 billion, up 19.7% compared to 2016 results, excluding the provisions related to ‘floor clauses’ in Spain.
Cepsa wants to open up a gap for itself in the sector for commercialisation of residential electricity and gas, with the aim of grabbing a 1o% share over the coming years. It will thus become one of the four main operators along with Endesa, Iberdrola or Gas Natural Fenosa.
Banco Santander posted profit of 6.619 billion euros in 2017, up 7% from a year ago. The profit figure was affected by extraordinary charges totalling 897 million euros.
The Cabinet has approved the takeover bid for Abertis launched by Atlantia for the former’s toll motorways in Spain.
Bankia posted net profit of 816 million euros in 2017, up 1.4% from a year earlier, thanks to the progressive stabilisation of the bank’s gross margin due to a greater marketing push.
Gas Natural’s main shareholders continue to analyse non-organic growth possibilities via acquisitions. The deal to which both Criteria Caixa (with 25% of Gas Natural) and Global Infrastructure Partner (with 20%) are dedicating more time is an eventual merger with EDP.