In Spain

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Indra wins €15m contract to renovate St. Louis metro ticketing system (USA)

Alphavalue/ Divacons | The Spanish IT services and consultancy company has been awarded a contract for almost €15m to renovate the ticketing machines for the St Louis metro (Missouri, USA). Indra has indicated that the new machines will be “state-of-the-art” and will replace the current ones, which were also supplied by the company between 2006 and 2012 and were distributed in the 38 stations of the St. Louis metro network.


Puig’s investor education period begins: if banks detect interest, IPO announcement could be imminent

Link Securities | This week begins the so-called Investor education period for the fragrance, fashion, cosmetics and make-up company Puig, in which the banks coordinating the sale of the company’s shares will show dozens of large funds the accounts and possible valuation of the firm, according to the newspaper Expansión. This is a key step in deciding whether the transaction goes ahead and the price at which it will be…


Ferrovial, Acciona and Sacyr win €3,131-million contract for construction and 30-year concession for 35-km Lima ring road

Ferrovial (FER) informed the CNMV that the Anillo Vial Periférico Consortium formed by FER, Acciona (ANA) and Sacyr (SCYR) has been selected to develop the Anillo Vial Periférico de Lima (Peru) project under the concession format with an investment of $3.4 billion (about €3.131 billion). This amount includes contributions of public funds from the government. Within the consortium in charge of the project, FER, through its toll road subsidiary Cintra,…

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Why Inditex is worth twice as much as Santander if it earns half as much

Aurelio Medel (5 Días) | Inditex, the textile empire controlled by Amancio Ortega, has become the Spanish company with the highest stock market value (145,000 million), a capitalisation that is almost double that of Banco Santander (74,000 million). But the surprising thing is that this difference in value bears no relation to profit, neither present nor foreseeable in the medium term. Inditex is today worth twice as much as Santander…


Justice ministry reopens Aena’s claim for costs caused by Covid

Intermoney | The Justice ministry has ordered the Directorate General of Civil Aviation (DGAV) to re-examine the claim that Aena (Maintain, PO €170) presented at the time on account of the costs caused by the pandemic in 2020 and 2021, according to Cinco Días. In December 2021, the DGAV denied any compensation to the operator, although now the Supreme Court has ruled that the administration should hear its arguments again,…


Iberia forecasts that purchase of Air Europa would allow Madrid airport to reach 100 intercontinental destinations

Link Securities | The Iberia airline is gradually unravelling its plans in the event that the purchase of Air Europa is successful, for which it is awaiting authorisation from the European Commission’s Directorate-General for Competition (the latest deadline is 15 July, but it can be postponed), according to Expansión on Thursday. The IAG subsidiary (IAG) explained that the merger would allow Madrid airport to reach 100 intercontinental destinations, twenty more…


Hungarian group Magyar Vagon launches €620-million takeover bid for Talgo

Ganz Mavag, the Hungarian consortium formed by state and private capital, today presented the prospectus of the takeover bid for 100% of Talgo at five euros per share with a maximum cost of €620 million. Talgo is currently trading at €4.3 per share. The Magyar investors remain committed to strengthening Talgo’s industrial capacity despite resistance from the Spanish government, which is reluctant to see the train manufacturer pass into the…


Bank of America regains 5.32% stake in Bankinter

Link Securities| Bank of America has raised its stake in Bankinter’s capital back to 5.32%, after reducing it to zero at the end of March, according to National Securities Market Commission (CNMV) records, Expansión reports today. The US bank clarifies that it has notified this stake because it has exceeded the exemptions provided by law and has specified that the purchases are not made on its own behalf, but on…


Treasury expects to receive 12.2% more in income tax campaign now under way

Yesterday, Wednesday 3 April, the window for filing online personal income tax returns for 2023 opened. The campaign will run until 1 July and 23,281,000 returns are expected to be filed, 1.2% more than last year. Of these, almost 63% – 14.6 million, 3% less – are expected to be entitled to a refund, for an estimated amount of €11.65 billion. On the other hand, the Treasury estimates that more…


Repsol begins large-scale production of renewable fuels at first plant on Iberian Peninsula

The new plant in Cartagena (Murcia), in which €250 million have been invested, has a production capacity of 250,000 tonnes per year, processing some 300,000 tonnes per year of organic waste, such as used cooking oil and food waste, among others. It can produce renewable diesel and sustainable aviation fuels (SAF), which can be used in any means of transport: cars, trucks, buses, ships or planes, taking advantage of existing…