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espana cibeles

In Spain 15th December 2024

Spain: November final CPI confirms preliminary 2.4% year-on-year (vs. 1.8% previously), core at 2.4% (from 2.5% previously)

Bankinter: November final CPI confirms 2.4% year-on-year preliminary (from 1.8% year-on-year previous), Underlying also confirmed 2.4% year-on-year preliminary (from 2.5% previous). On a month-on-month basis +0.2% month-on-month for the headline rate and +0.1% for the Underlying. Analysis team’s view: The data confirm the preliminary data and also the pick-up in headline inflation in 4Q24, as expected and anticipated by the ECB, largely due to base effects from energy (electricity and…

corporacion financiera alba

In Spain 13th December 2024

March family launches takeover bid to delist Corporación Financiera Alba

Thr March family has agreed to delist the Spanish holding through a takeover bid at a price of €84.20 per share in cash, which represents a premium of 79.5% compared to the closing price of €46.90 per share. This offer exceeds the historical maximum reached in 2007 (€60.70 per share). The takeover bid will be presented by the company along with Carlos March Delgado, its president and largest shareholder with…

grifols investigacion

In Spain 13th December 2024

Grifols to issue €1.3 billion in bonds to refinance debt maturities in 2025

Bankinter: The company is to issue soon €1.3 billion in Guaranteed Bonds maturing in May 2023 with a coupon of 7.125%. Together with part of the cash (September: €644 million), it will be used to redeem close on €340 million of Senior Secured Bonds maturing in February 2025 with a coupon of 1.625% and to pay off the working capital loan facility maturing in November 2025. It also extends by…

Aedas

In Spain 12th December 2024

Castlelake fund to launch final bid in January to sell Aedas Homes

Link Securities | The private equity fund Castlelake will launch in January the final bid to sell Aedas Homes (AEDAS), Spain’s leading housing developer by revenue, according to Voxpopuli.com. The fund, which controls 79.02% of the capital, has already made several soundings in recent years to dispose of its stake and complete its investment cycle . The financial advisors to the deal, Goldman Sachs and Deutsche Bank, have already told…

housing spain

In Spain 12th December 2024

Cinven buys Idealista real estate portal for €2.925 billion

Cinven signed the purchase of the real estate portal Idealista for €2.925 billion on Tuesday. This is the largest acquisition of an online company in Spain. The price represents a 2.25 times increase over the valuation of Idealista that the Swedish fund EQT paid four years ago, which was €1.3 billion.With this acquisition, Cinven takes 70% of Idealista, while Apax and Oakley – which held 17% and 12% of the…

bbva sabadell fusion 2

Spanish economy 12th December 2024

BBVA says competition authorities only identify three issues needing further work in second phase of Sabadell takeover bid

Alphavalue/ Divacons | Peio Belausteguigoitia, BBVA’s country manager in Spain, said that having bigger and stronger banks is beneficial for customers, shareholders and employees. During his speech at the 2nd Prensa Ibérica Financial Forum, he stressed that the transaction with Banco de Sabadell has great potential for value creation and will allow the integration of an entity with greater capacity to offer better products and services to customers. Regarding the…

Ibex 35 index

In Spain 12th December 2024

CAT to keep composition of Ibex 35 unchanged as aspirants’ trading volumes lower than those of current constituents

Bankinter | Next Thursday 12 December the Technical Advisory Committee (CAT) will hold a meeting to review the composition of the Ibex 35. On this occasion we do not expect any changes. What do we think will happen at the CAT meeting? The CAT will keep the composition of the Ibex 35 unchanged. The traded volumes of the aspirants are lower than those of the current constituents and therefore do…

inditex all

In Spain 11th December 2024

Inditex: Small Q3 Misses Likely To Drive Pullback

Jefferies | ITX’s Q3 update sees small misses at top-line, fx, gross margin and opex level result in a total EBIT shortfall of around 7%. Current trading is fractionally light but not inconsistent with a likely dd Q4 topline delivery. Net/net the group’s impressive growth credentials look confirmed, but the shares likely needed a better print to prevent some profit-taking today. Call at 8AM UK time.Detail Q3 EBIT 7% below…

Montero

In Spain 10th December 2024

Eurogroup asks Spain, Belgium and Austria for 2025 budget plan

Spain, Belgium, and Austria are the only eurozone countries that have not yet submitted their accounts for next year. However, Spain is the only one of the three countries that does not have a caretaker government and cannot blame the delay on an electoral call. Countries were required to submit their budget plans to the European Commission by October 15. In a joint statement, the finance ministers of the eurozone…

Merlin Properties new

In Spain 10th December 2024

Merlin Properties loses interest in increasing 14.16% stake in Crea Madrid Nuevo Norte

Link Securities | According to various sources consulted, the REIT, which is currently a 14.16% shareholder in Crea Madrid Nuevo Norte (CreaMNN), the developer of the project, has lost interest in increasing its stake in this large development, as reported by elEconomista.es. For several years, the company publicly announced its intention to become a leading partner in what will be Madrid’s largest new neighbourhood. However, now the focus of the…