After 80 years in existence, Spanish chemical group Sniace has agreed to seek liquidation with the courts for itself and its subsidiaries Celltech and Viscocel, given the impossibility of meeting the payments stipulated in its creditors’ agreement.
Banc Sabadell | America Movil would be open to explore options to buy Telefonica’s (TEF) assets in Latin America, according to statements from its CEO and CFO that have appeared in the press. It is worth mentioning that it was already leaked that Telefonica had hired several investment banks to try to accelerate the sale of its subsidiary HispAm to before June 2020. The idea would be to sell a…
The Ministry for Ecological Transition plans to make changes to the law which will affect Red Eléctrica and Enagás, operators of Spain’s electricity and gas networks, respectively. According to press reports, the two companies, each with a stake of public capital, will be obliged to inform the competition supervisor (CNMC) of any interest they have in acquisitions (now they are not required to do so). The CNMC will not have the right of veto, but it will impose conditions on its approval.
Merlin Properties’ CEO, Ismael Clemente, said it will take advantage of Portugal’s socimi regime when the country’s legislation is open to the incorporation of the so-called ‘community passport’ for companies from other European countries. Clemente was speaking at the III Iberian REIT Conference. Merlin has been in Portugal since 2015. Together with Spain, it is the firm’s strategic market.
Cellnex has reached an agreement with El Corte Inglés to acquire the exploitation rights for over 400 phone antennas installed by the Spanish distribution group on the roofs of more than a 100 of its centres. The final price is close to 70 million euros, which could be increased if certain financial objectives are met.
Spanish watchdog CNMV has confirmed the agreement between Acciona, the Brazilian consortium Move and the State of Sao Paulo regarding the transfer of the city’s subway line concession to the Spanish firm. This project was withdrawn from Odebrecht in 2016 and is one of the largest in Brazil’s concession sector.
By Kevin Flanagan, (Head of Fixed Income Strategy, WisdomTree) / This year has got off to an unusual start in the financial markets. Typically, the focus would be on the Federal Reserve (Fed) and/or economic developments, but unfortunately the coronavirus has taken centre stage. I thought it would be useful to offer some insights from a bond market perspective, using the SARS (Severe Acute Respiratory Syndrome) outbreak of November 2002 to July 2003 as a comparative event.____¨
The total dividend charged to the year 2019 will be 0.23 euros, of which 0.20 will be paid in cash and the rest through the scrip dividend program called ‘Santander dividend election’.The board of directors of Banco Santander has decided to increase the cash dividend corresponding to last year and propose to the next general meeting of shareholders the payment of a second dividend of 0.13 euros per share
Iberdrola will build its next wind farm in Spain, the Herrera Complex, with the most powerful onshore wind turbine, after awarding Siemens Gamesa the contract to supply the first SG 4.5-145 wind turbines, with a 4.5 MW power unit; which is almost seven times more powerful than the first wind turbines installed in Spain more than two decades ago.