When, in 2004, Santander has put at over 13.5 billion euros for control of Britain's Abbey, we hardly think that in the next two years, the invincible Spanish Armada, consisting of banking groups, and industrial manufacturers, was among the major ¹ active on the world stage. After the death of dictator Franco in 1975, there was no Spanish multinational worthy of the name, while today there are at least ten, including six listed in the Euro Stoxx 50, the stock market index that gathers the elite of European business.
This dynamism is a country in the last decade à ¨ grew at rates much higher than the EU average and approaching rapidipassi as income per capita, all France and Germany. Development that has had the pillars above the and construction, and that move has been largely financed by banks. ©'s why these areas have managed to accumulate wealth and liquidity to enable them unprecedented growth.
At the forefront are mainly Santander and BBVA, which have financed closely sistemaSpagna and who have chalked up an impressive list of acquisitions, but not in Europe (except the aforementioned Abbey and a few smaller prey), and particularly in where they were rejected, for the moment, with huge losses. ¨ certainly the case to the strong regulation of the Italian banking market, but also the aggressiveness shown and the absolute lack of proper timing in the launch the final attack.
Either what you said Santander room online now hoisted in the first batch of seven international banks, thanks to the Most recent purchases in the and its strong presence in Latin America, while rival BBVA acquired a few days ago a major share in a Chinese bank (CITIC), paying a billion euros. The fact is that now we must do daily to terms with the Spanish companies, as evidenced by the league table
major stock market transactions in progress: over half of the acquisition and merger in Europe concerns Iberia Group.
The advanced Spanish first move has been gradual, especially in Latin American countries (1999 to 2001 acquired assets of 80 billion euros), where à ¨ common language, then in Europe and worldwide.
Telefonica has invested in South America something like 41 billion euros, plus 30 billion in infrastructure. So that today 34% of gross operating profit of the group headed by Cesar Alierta ditlc (ie 14.6 billion euros) comes from this region. It will be two points higher than in 2007.
Much the same applies to the Santander Emilio Botin, the BBVA Francisco Gonzalez, but also for (led by Manuel Pizarro) in the energy and Repsol (led by Antoni Brufau) in the oil business. The Latin American adventure, despite some start, has allowed many groups not only to gain experience in international, but also to make hay on the farm. That move has been used initially to consolidate positions on the domestic market and then to conquest of new markets. The fact is that over the past two years the aggression of the Spaniards move has been proverbial. They know something the British, but also the French. ¬ Things like the Italians and Americans. And finally the countries Europe East and emerging ones like and India. A network, one built by Spanish companies abroad, which does not move has been random, but woven with a specific pattern, in settorichiave as energy, telecoms, construction, with the subsequent addition of servizi.Grazie knowhow to a consolidated But thanks to brave montages of the financial measures which have helped beat the competition internazionale.Del rest à ¨ known as the Spanish banks sustain productive enterprises, not only with the granting of significant lines of credit, but also acquiring shares direttenel their capital.
So that, as the Madrid Government ¨ à succeeded in building a robust and integrated and successfully launch its "SpagnaSpa." It is no coincidence that his bag had fallen prey succulent. Just think of England, whose main airports (including Heathrow) have for some months now operated by Ferrovial, a subsidiary of Del Pino family, who won à ¨ BAA for 15 billion euros, while the group Abertis Salvador Alemany is in charge to Luton.Ma alletlc also, thanks to Telefonica O2 in November del2005 bought for 26 billion, becoming not only one of the major international operators, but also the pià ¹ sector debt (more than 50 billion euros). A significant example, because © shows just how many Spanish firms (they are now all private) are willing to take risks if we secure a good deal. Besides the already mentioned Abbey acquired by Santander in Britain now have important positions such as hotel groups Nh, fashion like Zara 'entrepreneur Amancio Ortega, services such as FCC Esther Koplowitz who actively manage the recycling of waste and how the Ferrovial grant of three metro lines to
In the French à ¨ gone unscathed by the avalanche spagnola.In real estate, Metrovacesa, chaired by Joaquin Rivero, was awarded the à ¨ eg 68.5% of Gecina for 5.5 billion euros, while Sacyr à ¨ become a shareholder reference group of construction Eiffage (which controls the highways ParisRhinRhone) with a share of 33% paid 1.66 euros miliardidi. For its part, Abertis has acquired the other major French motorway concessionaire, Sanef.Discorso that brings us all a country where Spain's Abertis for over six months trying to merge with Autostrade to give life to the important group pià ¹ World sector.
As for the telecoms and services, we are all pià ¹ major companies, while in the banking BBVA ninth ¨ succeeded in gaining control of BNL and Santander that he hoped to play a major role in Sanpaolo must revise its projects, spreading from consumer credit and the bank Finconsumo with private management. Good opportunities, in addition, has the insurer Mapfre mutualist pointing to Cattolica. In the food, however, Gallina Blanca has targeted the group Star family Fossati.
On the other side Europe East, where the pià ¹ major Spanish construction groups are doing plunder, the new Eldorado à ¨ represented by a renewed interest in Latin America but also in rapidly developing countries like and l' India. But not solo.In banking and on motorways, the goals are the where the market à ¨ selective, but business good.
The Spanish groups, although © are aggressive, have undoubted pear ² debolezze.Molti are too indebted, because they have financed acquisitions © stranded abroad or diversification at home (many manufacturers started to attack the energy sector). Others are vulnerable in terms of capital controls and thus scalable. As is happening in the case of under takeover bid by Germany's Eon.

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