multinational

The Swiss multinational will build a new factory for Nescafé in Girona, where it has already an important plant that exports its products to more than 70 countries. Nestlé will invest €102 million in the project and the new facilities should be operational by the end of 2017, explained the company's Director General for Spain, Laurent Dereux. It will become the most important plant in Europe and its third-biggest in the world in terms of soluble coffee production capacity. The new factory will be built next to the existing plant and will add 10,000 additional square metres to the compound, increasing its production capacity by 30%. It will replace the plant’s oldest production chain, which will not be dismantled as it could be useful in the medium term. The expansion will bring some 40 new jobs to the Catalan plant.

Barcelona-based Abertis' telecommunications subsidiary, Abertis Telecom Terrestre, will operate as Cellnex Telecom, S.A. from 1 April, as approved by the company's Shareholder General Assembly on Tuesday. The new name and brand are part of the preparations for a potential stock market flotation, as announced last October in the context of Abertis' 2015-2017 Strategic Plan. However, neither the Catalan group's President Salvador Alemany, nor Vice President and CEO, Francisco Reynés, have set a precise date yet for its admission to trading, which will be announced during this year's first semester. The new company's slogan will be "driving telecom connectivity".

Last week, TSB announced Banc Sabadell's interest in purchasing all of the shares of the British bank, which is partially owned by Lloyd's. The board of the 6^th largest bank in the United Kingdom then said they would welcome the Catalan bank's takeover bid, which they set at £3.40 per share (equivalent to €4.80). This meant that Banc Sabadell would buy TSB for £1.7 billion, or €2.4 billion. At that time, the Catalan bank denied any definitive agreement had been reached and simply confirmed that there were some talks in progress. A week later, Banc Sabadell has finally announced and approved the takeover bid, on the same terms released last week. In order to fund the transaction, the Catalan corporation will carry out a €1.6 billion increase in capital. This purchase will significantly strengthen Banc Sabadell's internationalisation, dramatically increasing its presence in the UK and in London's financial circles.

The 22@ technological and business district of Barcelona, which is located between Glòries and the Fòrum areas and around the streets of Diagonal and Pere IV, grew by 136% more in 2014 than in the previous year. The area has accumulated 88% of the pre-leased offices and has also attracted 34% of operations in the Catalan capital. This huge growth could come to a stop in a year because some experts warn that there will not be enough space available if there is no new construction. The increase in this area of the city is almost three times higher than the average in Barcelona, which grew to 53.76%. The Information and Communications Technology sector leads office acquisition, with 28% of total real estate investment used to set up offices in Barcelona being accounted for by this sector.

TSB, which is the seventh-largest bank in the United Kingdom, confirmed on Wednesday that they have received a preliminary takeover bid of £1.7 billion (equivalent to €2.35 billion) filed by Banc Sabadell. The Catalan bank would have offered £3.40 per share (€4.80) and would be ready to buy the entire British financial entity, 50% of which is still owned by Lloyds. Sources from Sabadell have confirmed takeover talks, but they stressed that they are still preliminary in nature. After the news was released, shares of TSB increased by 26.4% while those of Banc Sabadell dropped by 7.5%, causing the Spanish Stock Exchange Authority (CNMV) to temporarily suspend trading in the Catalan bank. When Banc Sabadell returned on the stock market, its shares continued to decrease, dropping by 10.5%, but they partially recovered and ended the day with a 6.6% loss.

Grifols, a global healthcare company based in Greater Barcelona, announced on Wednesday that it will acquire 45% of the California-based firm Alkahest for $37.5 million. The biopharmaceutical company headquartered in Redwood City (near San Francisco) was founded last year upon the work of Stanford University scientists, who proved that factors in the blood of young animals were able to restore mental capabilities in old animals. This discovery has triggered Grifols' interest, a world leader in blood-derivative products. The two partners will work together on the development of novel plasma-based products for the treatment of cognitive impairment associated with age and other diseases of the central nervous system, including Alzheimer´s.

The Catalan Parliament has continued its interrogation of the Pujol family for alleged fiscal fraud and corrupt practices, after Jordi Pujol – who uninterruptedly headed the Catalan Government between 1980 and 2003 – confessed in July that his family had kept a fortune in the fiscal haven of Andorra for 34 years without informing the Spanish tax authorities. Pujol (aged 84), his wife, and 6 of their 7 sons and daughters have been indicted by the judge in the case. On top of this, 3 sons have received further indictments for other cases, including Oriol Pujol, who was the Secretary General of the Liberal party CDC, which is the largest force within the two-party coalition CiU that has ran the Catalan Government since late 2010. On Monday, it was Oriol Pujol's turn to speak before the parliamentary commission investigating alleged fiscal fraud and corrupt practices during the 23 years Jordi Pujol led the Catalan Government.

Barcelona-based Abertis, a multinational company specialised in the management of toll roads and telecommunications infrastructure, has reached an agreement to purchase 7,377 mobile phone towers in Italy at a total cost of €693 million. The Catalan group – which saw its net profits rise last year to €655 million – will acquire 90% of the shares of Galata, the subsidiary of the Italian operator Wind that owns the telephone towers. Abertis will thus strengthen its presence in the transalpine country and become the "largest European operator of telecommunications infrastructure for mobile telephony and audiovisual broadcasting", as the company announced through a press release.

The Catalan company announced on Monday that it will start working in Japan, the world's second-largest market for travel agencies. The Barcelona-based firm highlighted "the importance and potential" of Japan, hoping to gain a high market share within the country. Starting business activities in Japan represents "a gigantic step" for eDreams' internationalisation strategy, stated the company. The land of the rising sun is considered to be the largest travel market in the Asia-Pacific region. eDreams' total amount of online bookings is some $30.8 billion. The company expects this type of booking to represent 40% of total bookings by the end of the current year. Including Japan, eDreams operates in 44 different countries, on 5 different continents.

The multinational Catalan fragrance company Puig has won its perfume imitation lawsuit against Saphir, a company from Zaragoza dedicated to commercialising imitations of known fragrances. The Trademark Court from Alicante found Saphire guilty of “unfair competition” and ordered the Zaragozan company to remove its products from the market and destroy them. Puig accused Saphir of selling brands called ‘Saphir’, ‘Caravan’ and ‘IAP’ specifying that they were imitations of Carolina Herrera, Paco Rabanne and Nina Ricci, international brands run by Puig.

José Manuel Lara Bosch, President and partial owner of the Barcelona-based Grupo Planeta – the world’s largest publisher in Spanish language – died on Saturday in the Catalan capital aged 68, after a long battle with pancreatic cancer. His funeral was held on Monday in Barcelona and it brought together top representatives from Catalonia’s and Spain’s political, business, media and cultural worlds. Grupo Planeta owns many publishing houses as well as TV channels, radio stations and newspapers. It also grants each year the biggest prize in Spanish literature. In the late 1960s, Lara Bosch started to hold top positions in the family’s publishing house Planeta, founded by his father. In the 1980s, he was behind the business’ expansion, buying many publishing houses. His brother’s early death in 1995 made him become the group’s ‘number 2’ after his father, who passed away in 2003. In the 1990s and 2000s, Bosch transformed Planeta into a multimedia giant.

The multinational company Roberlo, based in the Girona Province, has acquired the British enterprise Chemfix. Roberlo, which manufactures chemicals for the construction and automobile industries, expects to increase its profits by 30% this year with this transaction, reaching 65 million euros. 85% of the Catalan company’s turnover moves into foreign markets, so this purchase contributes to its internationalisation. The aim of the Girona-based company is to be one of the top three European producers which use chemical docking, an industrial technology.The business has two factories in Girona, one in Brazil, one in Russia and now, one in the UK. The Catalan group has ten subsidiaries and employs 400 people, 200 of which are located abroad.

The European Commission has warned Spain that 6 Autonomous Communities, including Catalonia, should cancel their tax on large-sized shopping centres because it may represent indirect State aid benefiting smaller shops and therefore damaging free competition. The Catalan Minister for Business and Employment, Felip Puig, announced legal actions to defend this tax, which was validated by the Constitutional Court. Catalonia’s shopping model has a great presence of small and local shops, mostly run by families with a small number of employees. In order to protect this model and make it compatible with new shopping malls and large-sized international shops, in 2000 the Catalan Parliament created a tax on shops larger than 2,500 square metres. Currently, it is set at €17 per year per square metre. The revenue collected is devoted to actions promoting local retail.

Abertis, the international group which manages transport and telecommunications infrastructures, has announced it will list its telecom exchange business on the Stock Exchange in 2015. The Catalan company presented its new Strategic Plan for 2015-2017 to investors in London this week. The main objectives of the decision were to develop its business strategy, increase returns for shareholders and boost growth. The company currently owns 8,000 radio, television and mobile signal towers. Besides, Abertis presented its numbers for the first nine months of 2014 to the Spanish Stock Exchange Authority (CNMV), including a net profit of €560 million, an increase of 4.6%. The new Strategic Plan also envisages a dividend increase of 10% for its shareholders every year until 2017.  

The energy company Gas Natural Fenosa announced they have launched a tender offer for 100% of the share capital of the Chilean Compañía General de Electricidad (CGE), which represents a €2.6 billion purchase. The transaction is to be the biggest international  acquisition by the Barcelona-based company. The total size of the operation, including the consolidated debt of CGE and its subsidiaries, is approximately €6 billion. It expected to generate over €600 million gross profit next year. Purchase of CGE, which distributes electricity to 43% of the Chilean market, and has 2.5 million customers, will increase the Catalan company's presence in Latin America. Furthermore, this deal will allow Gas Natural Fenosa to meet its 2015 growth targets and strengthen its presence in Latin America.