Intermoney | Ebro Foods (EBRO) closed and executed on Friday December 31 the sale to CVC of Panzani’s dry pasta, couscous, sauces and semolina businesses for €550mn (100% of the business) enterprise value. Included in the sale are the related operating assets: the La Montre, Nanterre, and Vitrolles plants, as well as the Gennevilliers, Littoral and St. Just mills. In 2005, Ebro paid for all Panzani businesses a total of…
Renta 4 | The European Union surprised with a new plan that would label some natural gas and nuclear energy projects as “green” investments after a year of debate among the different governments about which investments are really climate-friendly. Specifically, the Brussels text, still in draft form, includes nuclear power plants already in operation and those to be built at least until 2045, as well as gas-fired power plants, which will enjoy the same recognition until 2030.
Miguel Navascués | After reaching 22,169 euros at the end of 2019, Spanish per capita income had fallen to 19,429 euros by end-2020, a level very similar to that of 2015 (19,348 euros). Per capita income, or GDP per capita, depends on GDP growth and population growth, obviously. GDP growth depends, as we know, on the productivity growth of all factors, i.e. investment, technology, and the number of employees. Which…
Link Securities | ACS and the Vinci Group have signed, with effect from 31 December, the public deed of sale of most of ACS’s Industrial Division agreed on 31 March. Pending is the carve-out in favour of ACS of certain predetermined assets, which will be executed mainly in January and in the following months. ACS received some 4.902 billion euros as consideration. With this price, ACS has obtained a net…
CDM/ The Management Committee of the Madrid General Index (IGBM) decided in its ordinary revision meeting that both the IGBM and the Total Index will be formed by 115 listed companies in the first half of 2022. This follows the exit of Barón de Ley, Biosearch, Codere, Euskaltel and Solarpack, and the entrance of Acciona Energías Renovables. Acciona Energías Renovables will become part of the index after its listing on…
Mapfre has reached an agreement with Caixabank on the insurance business and announced a restructuring of the Spanish business. The compensation to be received by Mapfre for the break-up of the bancassurance alliance with Bankia amounts to 571 million euros. Of the total, 323.7 million euros corresponds to the sale to Caixabank of 51% of Bankia Vida for 110% of the market value (established by an independent expert). Then there…
Fernando González Urbaneja | If we listen to the account from the government, the Prime Minister and his vice-presidents, the Spanish economic performance for the year just ended deserves an “A” grade. In spite of the difficulties, the external enemies, the irresponsible opposition, the uncontrolled gas, the unapologetic pandemic, the unforeseen Filomena… the Spanish economy has recovered, with resilience, with feminism, with sustainability, with environmentalism… And two objective data serve…
Bankinter : Preliminary December CPI +6.7% YoY rises strongly from 5.5% previously and well above the 5.6% expected. The underlying rate stands at 2.1% YoY in December (preliminary) from 1.7% previously. According to the INE, the advanced figure for December would be the highest CPI rate since March 1992. Of note in this behaviour is the rise in the price of electricity, higher this month than in December 2020. Also…
Cintra, Ferrovial’s toll road subsidiary, has completed the acquisition of a 24.86% stake in Indian company IRB Infrastructure Developers for €369 million. The deal has been completed after a preferential share issue by IRB Infrastructure Developers, a leading infrastructure player in India, where it manages 24 projects spanning more than 2,500 kilometers of toll road. As a result, Ferrovial is now a significant minority shareholder with representation on the company’s…
Renta 4 | Siemens Gamesa has signed an order for 302MW with the promoter Ayana Renewable Power Six Private to supply 84 wind turbines of the SG 3.6-145 model for a project in India. This project is located in Gadag, in the state of Karnataka, in the south east of the country. It is the third one for the new Siemens Gamesa 3.X platform, specifically adapted for the Indian market….