Santander Consumer USA Acknowledges Talks With Fiat Chrysler
Santander Consumer USA, a subsidiary of the Spanish bank, has assured the US markets regulator (the SEC) that it is in talks with Fiat Chrysler about its plans in the US.
Markets
DS Smith Will Acquire Europac At 16,8 €/Share (10.1x EV/Ebitda)
DS Smith has lodged a bid for Spanish paper and packaging company Europac, valuing the latter at 1.9 billion euros. The UK firm has offered 1.667 billion euros for 100% of Europac’s capital (16,80 euros/share).
An Explanation Of The Steel And Aluminum Tariff War In 16 Points
US imposed steel (25%) and aluminum (10%) duties on Europe, Canada and Mexico on May 31, reflect Trump’s view of the world economy as a zero-sum game, meaning each country has to fight tooth-and-nail to get its hands on the biggest slice of the pie. As pointed by Philippe Waechter, Chief Economist at Ostrum AM, “this view is admittedly not helpful in understanding economic and growth momentum, but it is the view we are dealing with here.”
Testa Delays Its IPO Due To Political And Market Instability
The shareholders of the Testa Residencial, Santander (37%), BBVA (26%), Acciona (20%) and Merlin Properties (17%), have finally chosen to list the Socimi on the MAB instead of making a public offer of part of its share capital. The reason behind the decision is the tensions in the financial markets over the last few days.
Aena To Hike Its Dividend: 4.2%, 4.4% And 4.6% In 2018, 2019 And 2020
As part of its strategic plan for 2018-2021, Aena’s board of directors has approved shareholder remuneration equivalente to an 80% pay-out on net profit in 2018, 2019 and 2020. The board could change this policy in the event of exceptional circumstances arising.
Gas Natural Exits Colombia For Good
According to Colombia’s Stock Market, Gas Natural has agreed to sell the 15.46 million shares, or 41.89% stake, which it stills holds in its Colombian retail distribution unit Gas Natural ESP. With this move, the Spanish firm will complete its exit from Colombia.
The Myth Of The Catastrophe Of The 3% Return On Bonds
Lukas Daalder (Robeco) | Investors are making the mistake of focusing on 3%, believing the returns on US fixed income securities augur a decline in equities
Bankia’s Three-Year Business Plan Forecasts Strong Rise In Profitability
The management team at Bankia recently unveiled a three-year business plan which forecasts a strong improvement in profitability, with ROTE (based on a 12% CET1) reaching 11% in 2020.
The Intensification Of Capex Is Not So Obvious: Italy Does Invest Despite Political Affairs
European companies face the challenge of failing due to the competition from Asia, but it’s a fact that they constantly invest more than their annual depreciation, 20% more to be precise. And if we analyse the hierarchical order by countries, Italy is not exactly lagging behind. Neither is the UK.
The UK: The City Wants To Take More Risk
The European leveraged financial markets have an increasing attraction for investors seeking more risk. According to data from Moody’s, the new volumes of issuance of European Collateralized Loan Obligations (CLOs), one of the main sources of demand for leveraged loans, stand at 6.4 billion euros in the year to date. At this rate, it will exceed the annual figure for 2017 of 18.8 billion euros, which was the highest in the last 10 years.