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Spanish economy

Grifols

Spanish economy 18th November 2021

Grifols will use the funds from GIC to cut its debt; meanwhile other payment commitments have been generated

Renta 4 | Grifols (GRF) and GIC have obtained the relevant regulatory authorisations to allow The Sovereign Wealth Fund of Singapore to go ahead with its investment to buy 23.8% of Biomat for 990 million dollars. Grifols will, of course, still maintain operating control of the company, as well as access to the recovered plasma in the over 300 plasma donation centres Biomat has in the United States. The funds…

Garanti BBVA

Spanish economy 18th November 2021

BBVA: Turkey Is Better Than The US Or Spain

Fernando González Urbaneja | Turkey consolidates BBVA’s internationalisation as the third leg of a bank based on Mexican, Spanish and Turkish business. Three different markets, three currencies, three economic areas. Diversification with risks, perceived as an opportunity. The Turkish bet is not new. It dates back to 2011 when the bank led by Francisco González surprised the market with the purchase of an almost majority stake in Garanti (49%), one…

Acerinox cool

Spanish economy 17th November 2021

Acerinox Is A Potential Jewel For A Long-Term Investor

Renta 4 |In the case of Acerinox, there is a lot of data which grabs the attention, both at a technical and valuation level. During the last 15 years, the price has been forming a defined lateral range, with resistance between 12,70 and 13,75 euros (historic highs). This kind of very long consolidation (in the price) precedes important long-term trends. So it is possible to consider the potential for an…

escriva

Spanish economy 16th November 2021

Government And Trade Unions Agree That Companies Will Assume 83% Of The 0.6% Rise In Social Security Contributions

The employers represented by their employers’ associations, CEOE and CEPYME, announced yesterday that it is impossible to reach an agreement with the Government and trade unions to establish an “Intergenerational Equity Mechanism”. This is what the Government and trade unions intend to do, with a 0.6% rise in contributions over 10 years to alleviate the deficit that will result from the retirement of the baby boom of the 60s. In…

BBVA Holvi

Spanish economy 15th November 2021

With The Turkish Lira At Historic Lows, BBVA Launches A €2.25 billion Takeover Bid For The 51% Stake In Turkey’s Garanti It Does Not Control

BBVA, which currently holds 49.85% of the capital of Turkish bank Garanti has agreed to launch a voluntary takeover bid for the remaining 50.15% it does not hold. BBVA is offering Garanti’s shareholders 12.20 Turkish Liras in cash for each share of the Company. This is a 15% premium to the 10.58 Turkish lira at which the bank’s shares were trading on Friday 12 November. The maximum amount to be…

Inditex

Spanish economy 15th November 2021

Inditex’s Owner Enters Renewables Business In Partnership With Repsol

The Spanish oil company has announced an agreement with Pontegadea, Amancio Ortega’s investment company, to partner in its first operational wind farm in Spain, representing the investment group’ first renewables deal. Specifically, Pontegadea will invest 245 million euros to take 49% of the Delta wind farm, valued at 500 million, a project with an installed capacity of 335 MW located in the province of Zaragoza (Spain). The remaining 51% of…

Spanish Banks coronacrisis

Spanish economy 14th November 2021

Spanish Bank Financing Of Oil And Gas Projects, Incompatible With The Paris Agreement

CdM | Despite adhering to international initiatives, since 2016, the top 60 banks worldwide have dedicated a total amount of $3.8 trillion to fossil fuels.  The financing of fossil fuel projects and companies results in GHG emissions incompatible with the economic decarbonisation needed to limit global warming to around 1.5ºC. In the case of Spanish banks, Bankia, Bankinter, BBVA, CaixaBank, Banco Sabadell and Banco Santander have signed up to this…

Over 90% of foreign companies in Spain expect to increase or maintain their investment in 2020

Spanish economy 12th November 2021

Spain Not To Reach Pre-Pandemic GDP Level Until Q1’23 VS Germany, France And Italy At End-2022

The European Commission estimates that the Spanish economy will grow by 4.6% in 2021, which represents a cut of 1.6 % compared to the estimate it made in July. According to these calculations, Spain will be the last of the four large euro economies to recover its pre-crisis GDP level. These data contrast with the optimism of the government, which sees a rise in GDP of 6.5% this year and an expansion of 7% a year later.