Posts Tagged ‘acquisition’

Ebay pays €165 million to acquire Spanish startup Ticketbits

Ebay pays €165 million to acquire Spanish startup Ticketbits

EBay has announced the acquisition of the Spanish company Ticketbis, the platform for buying and selling event tickets. This means that Ticketbis will become part of StubHub, the ticket resale website in the US. The aim of the purchase is to increase the presence of StubHub in Latin America and Europe as well as to extend the business in Asia and the Pacific. The exact terms of the agreement have not been officially disclosed but sources close to Ticketbis Novobrief reveal that the purchase is around 165 million dollars.

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The United Nations woos Spain vendors

The United Nations woos Spain vendors

Spain is currently 9th on the list of global suppliers of goods and services to The United Nations, no mean feat for a country which emerged just 18 months ago from a deep downturn to return to economic growth. In 2014, the UN’s purchases totalled 17.237 billion usd, with Spanish firms contributing 3 percent of its total budget. It is these companies’ increasing competitiveness which has won the international organisation’s seal of approval.

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Yoigo’s Aggressive Commercial Move Pays Off

Yoigo’s Aggressive Commercial Move Pays Off

Mobile phone operator Yoigo’s aggressive commercial strategy is paying off, if its first half 2015 results are anything to go by. The Spanish subsidiary of Swedish telecoms giant TeleSonera saw its profitability improve sharply in the six months to June, posting an 116 percent year-on-year rise to 27.4 million euros in earnings before income, tax, depreciation and amortisation (EBITDA). While revenues in the first half showed an overall just under 3 percent decline, they rose 5.3 percent to 206 million euros in the second quarter, proof that Yoigo’s decision in March to offer unlimited calls and up to 20 GB of data for 29,9 euros per month was a smart one.

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Orange Buys Up Jazztel in Spanish Market

Orange Buys Up Jazztel in Spanish Market

As Spain’s economic recovery continues, and both the government and international organisations like the International Monetary Fund (IMF) upgrade their growth forecasts, M&A deals are thriving! The latest protagonist is French telecoms operator Orange which last month won approval from Spanish regulators for its 3.4 billion euros buyout of local broadband and cellphone operator Jazztel PLC. The European Commission gave the deal its green light after Orange agreed to a package of divestments and network-sharing agreements to help launch a new telecoms operator in Spain.

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AXA Completes Buy of Santander Assets

AXA Completes Buy of Santander Assets

Axa Real Estate has given a vote of confidence to Spain’s recovering property market with the acquisition of 381 branch offices from the country’s biggest bank Santander. Axa Real Estate, the largest real estate portfolio and asset manager in Europe, brokered the 308 million euros deal on behalf of a joint venture involving two of its institutional clients. Most of the offices are located in major cities like Madrid, Barcelona and Malaga, but there are also some in prime locations in smaller towns across Spain.

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Banca March Strengthens Growth Prospects

Banca March Strengthens Growth Prospects

Spanish private bank Banca March continues to outperform its competitors thanks to its strict risk control policy, exclusive products and value creation for clients. The unlisted lender emerged as the most solvent bank in Europe in two stress tests carried out by the European Banking Authority in 2011 and 2012. And this solvency, coupled with its excellent reputation, has allowed it to grow organically over the past few years while its peers have been on the acquisition trail.

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Banco Sabadell Buys British Bank TSB

Banco Sabadell Buys British Bank TSB

Spain’s banking sector is now in recovery mode after undergoing an in-depth restructuring to streamline the number of lenders, clean up their balance sheets and boost their capital base. And what better proof of the sector’s strength than Catalonia-based Banco Sabadell’s recent takeover of Britain’s Trustee Savings Bank (TSB).

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Spain M&A Sector Continues Growing

Spain M&A Sector Continues Growing

Companies across the globe are expected to show increased appetite for M&A in 2015, continuing the positive trend registered last year, consultancy firm KPMG said in its February M&A Predictor report. As the impact of the financial crisis has eased over the last two years or so, firms have been able to pay down debt and start building up cash to fund fresh acquisitions. Easier access to credit has also been a factor influencing the rise in deals in 2014.

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Madrid’s Canalejas Project Boosts Economy

Madrid’s Canalejas Project Boosts Economy

A major makeover is underway in the centre of Madrid which will boost the economy and create a substantial number of jobs! The so-called Canalejas project – referring to the emblematic Canalejas square at the heart of the new urban development – is spearheaded by Spanish businessman Juan Miguel Villar Mir, chairman of builder OHL and its private conglomerate parent Grupo Villar Mir. It already has attracted a slew of investors, both domestic and overseas, including top hotel group Four Seasons. The Canadian chain will open its first hotel in Spain, a luxury 215-room establishment.

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France’s Ardian Mulls Opening Madrid Office

France’s Ardian Mulls Opening Madrid Office

Independent French private equity (PE) firm Ardian is reported to be considering opening an office in Madrid, in a move which demonstrates Spain’s increasing importance as a hub for international investment. Ardian, formerly Axa Private Equity, already has a range of investments in Spain, including a 15 percent stake in energy company CLH.

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