Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer. Banesco bet out five other rivals in the auction.
Tags: Spain
Panama Canal Authority, Spanish-led consortium to keep $7B Panama Canal expansion project running
The Panama Canal Authority and a building consortium led by Spain's Sacyr Vallehermoso SA on Tuesday agreed to put up at least $100 million each to keep the Panama Canal expansion project running. The two parties are at odds over who should pay for $1.6 billion in project cost overruns.
Spain's Codere gets 30-day grace period on €127M loan
Gaming group Codere, which sought protection from creditors last week, got a 30-day extension on a €127 million ($173 million)loan due on January 5. Codere had €1.27 billion of debt as of last September.
Spain's Telefonica denies involvement in joint offer for TIM Brasil
Spain's Telefonica said it was not thinking of making a joint bid for TIM Brasil, the Brazil-based wireless network operator of Telecom Italia, Reuters reported.
Spanish bank Santander sells real estate unit to American private equity firm Apollo for $903M
The biggest bank in Spain, Banco Santander SA, sold its real estate arm to US-based private equity group Apollo Global Management in a deal valued at €664 million ($903 million).
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US casino operator Las Vegas Sands said on Friday that it will drop its over $30 billion investment plans into Eurovegas, a mega-casino project to be established in Madrid.
Debt-ridden fishing firm Pescanova SA is weighing a buyout offer from a consortium led by US private equity firm KKR & Co. The KKR & Co consortium, which includes investment firm Ergon Capital Partners and existing shareholders Luxempart and Damm, offered to acquire Pescanova for an undisclosed sum.
HSBC Holdings PLC has put up for sale its 8% stake in Bank of Shanghai Co. HSBC sold its holding in the Chinese bank to Spain's Santandar SA for an undisclosed sum.
Telecom Italia's activist investor Marco Fossati campaigned against the enforced sale of TIM Brasil. Brazil's competition regulatory body ruled earlier this week that Telecom Italia must divest its stake in the Brazilian mobile carrier.
France's two largest petroleum and electric utility firms are vying to develop two 500-megawatt wind projects near Le Treport in France. The French government opened the bidding earlier this year to attract investments of about EUR3.5 billion.
Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.
On Wednesday, sources disclosed that the board of directors of Spanish oil major Repsol will resolve to agree on compensation for its 51% ownership stake in YPF, of which the latter will be nationalized by the government of Argentina.
Spanish bank Banco Popular announced the sale of its property management units to US-based investment companies Varde Partners and Kennedy Wilson for an undisclosed amount.
The Wall Street Journal said private equity firms may soon be returning to Spain and Italy. The report cited data from Preqin and the information presented given by several sources.
