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Grifols inmunoglobulin

In Spain 21st November 2024

Grifols believes Brookfield’s non-binding offer greatly undervalues fundamental prospects and long-term potential

Santander Credit Research | Grifols (B+ s, B+ s) yesterday informed the CNMV that it has received a non-binding offer from Brookfield that considers a price of €10.50 per class A share and a price of €7.62 per class B share, which would imply valuing Grifols’ equity at €6.5 billion. According to the relevant fact communicated to the CNMV, Brookfield last week sent letters to Grifols’ Transaction Committee, constituted by…

migration from Morocco to Spian

In Spain 20th November 2024

New Immigration Law Regulation to allow regularization of 300,000 immigrants per year

This was announced by the Minister of Inclusion, Social Security, and Migration, Elma Saiz, at a press conference following the Council of Ministers. The new regulation “will serve to combat mafias, to combat fraud, and to combat the violation of rights” because it “simplifies” procedures and “delimits” the competencies between consulates and immigration offices. One of the new features is the regulation of the job search visa, for which its…

OHLA azulito

Spanish economy 20th November 2024

More than 93% of OHLA debt bondholders support recapitalisation plan

Alphavalue / Divacons | The construction company received the backing of more than 93% of its debt bondholders to implement the group’s recapitalisation plan, which aims to improve its financial situation, ensure the sustainability of its debt by progressively reducing its indebtedness and strengthen its capital structure. The construction company informed the Spanish National Securities Market Commission (CNMV) yesterday that, with this level of adhesions, it has ‘sufficient majority’ to…

InmoColonial

In Spain 20th November 2024

Cancellation of REITs regime rejected

Intermoney | The annulment of the tax regime for the REITs, previously agreed by the PSOE and Sumar, was not approved on Monday at the marathon meeting of the Finance Committee of the Congress of Deputies, which ended after midnight. This initiative was part of other tax reforms that were to accompany the transposition in Spain of the EU directive on the minimum percentages of profits that multinationals should pay…

vivienda

In Spain 19th November 2024

Housing transactions in Spain grow 41.5% in September (year on year), highest single-month figure since 2007

Bankinter : Housing transactions grew 41.5% in September (year-on-year) to 61,887 units versus 0.9% previously. This represents an accumulated increase of 3% so far this year (against a 5% estimated drop in 2024). Opinion of Bankinter’s analysis team: Good news. Transactions grew strongly in September, supported by the interest rate cuts, and reached the highest number of transactions in a month since 2007. A further sign of the strength of…

utilities

In Spain 19th November 2024

Decline in wind and nuclear energy generation drives electricity prices in Spain above €100/MWh, 50% higher than last month

The daily price of the Spanish wholesale market (POOL) as of November 17 stands at €104.03/MWh. This is 51.78% higher than last month (€68.54/MWh) and 64% higher than a year ago (€63.45/MWh). According to analysts from Grupo ASE, this price increase is due to the reduction in wind and nuclear generation coinciding with a rise in gas prices, which makes combined cycle production more expensive. Therefore, in recent days, electricity…

banco sabadell

Spanish economy 18th November 2024

Banco Sabadell minority shareholders appear in file opened by CNMC on BBVA takeover bid

Alphavalue / Divacons | The Association of Minority Shareholders of Banco Sabadell (Aambs) requested to be considered an interested party in the file opened by the National Markets and Competition Commission (CNMC) in relation to the takeover bid that BBVA wants to launch on the bank. The association has invoked the antitrust regulations to protect its right to be considered an interested party, as it is an entity that represents…

endesa cartel

In Spain 18th November 2024

Purchase of Acciona’s hydro assets enables Endesa to increase market share in renewable generation

Renta 4 | The company has reached an agreement to acquire Acciona’s hydro assets in Spain. The deal consists of 656 MW of 34 plants generating 1.3 TWh in 2023, for which Endesa has agreed to pay €1,000 million debt-free, financed with its own funds, and which is expected to close in 1H25, subject to the relevant regulatory approvals. Assessment: The remaining useful life of these assets is limited in…

grifols edificio

Spanish economy 18th November 2024

Brookfield closes refinancing of Grifols debt for €11,000 million with Deutsche Bank and Banco Santander

Link Securities | The Canadian private equity fund Brookfield has taken a definitive step to take control of GRIFOLS (GRF) through a takeover bid for 65% of the capital, as reported on Thursday by the newspaper ElConfidencial. According to sources close to the operation, the fund closed with Deutsche Bank and Banco Santander (SAN) the refinancing of the company’s debt of €11,000 million, the largest syndicated loan signed in Spain….

sanchez elections

In Spain 15th November 2024

Fiscal Abuses: Government Discriminates Against Companies for Ideological Reasons

Aurelio Medel (5 Días) | In Spain, Parliament remains trapped by the whims of minor parties that support Pedro Sánchez’s Government, putting him in the position of either adopting their clientelist interests or renouncing to govern. The political negotiation regarding the tax on banks and energy companies, sectors that have historically been attributed with the greatest capacity for influence in Spain, is a vivid portrait of the blackmail from these…