Some say the Euro is overvalued while others claim it is not. The founders of the Euro had dreamt of a superpower currency that can go head to head with the US dollar, to free Europe from US economic dependence.
Tags: Spain
CEPSA takes over Coastal Energy Co. For CAD2.3 billion
Spanish multinational oil firm CEPSA bought Canadian Coastal Energy Co. for CAD2.3 billion (USD2.21 million) including debt. CEPSA will pay CAD19 per Coastal Energy share in cash.
Prisa close to reaching EUR 3 billion refinancing agreement with creditors
Spain's largest media firm Promotora de Informaciones or Prisa was close to reaching a refinancing agreement with its creditors for its EUR more than 3 billion debt, sources told Bloomberg.
Apollo raises USD3.9 billion to buy out distressed assets in Europe
American investment firm Apollo Global Management LLC raised USD3.9 billion to buy distressed European assets. Specifically, the private equity firm is hunting for hotels and resorts in Spain.
Mexico's Sigma finalizes full takeover for Spain's Campofrio
Mexico-based food conglomerate Sigma Alimentos announced it plan to take over Spain's meat processing company Campofrio after it agreed to buy 40% of of the Spanish company from its current shareholders.
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In a move to comply with local regulations as well as economic slowdown in China, BBVA would be able to sell off some of its shares in CITIC.
After its review under the Global Financial Stability Report study, Italy, Spain and Portugal stand to be financially distressed because of their exposure to possible loan defaults from corporations.
Spain's Bankia had been in exclusive discussions with brokerage GVC to sell its own brokerage unit valued between EUR20 million and EUR40 million, said sources.
The higher interest rates imposed on small businesses hurt the Spanish recovery program. Despite the expansion of Spanish manufacturing and services sectors of the country, which is the first time in the past two years, the lack of available funds for lending clearly hindered the growth of the country.
Spain's El Corte Ingles said on Monday that it has reached an agreement with banks to refinance its EUR5 billion debt.
Spain may seriously consider taking their Gibraltar dispute with Britain to the United Nations for support on the issue.
The EU approves the joint venture to create a new mobile commerce venture in Spain. A new venture that focuses on the future of mobile commerce in Spain has been approved by the European Commission.
The mobile market of Spain shrank in June which further reduced the chances of recovery for the country.
Spanish officials sold a controlling stake in Project Bull to H.I.G. Capital for around EUR100 million.
