Finance Extra for the UK and Spain

Finance Extra for the UK and Spain

KIMBERLEY: Now sold, but one of De Beers' first diamond mines Photo credit: CC/Rijksmuseum

Flying solo DE BEERS will thrive when it separates from Anglo American, its owner for the past 12 years, the diamond company’s chief executive Al Cook insisted. Insiders believe that De Beers’ plans for the future could include a £4 billion (€3.7 billion) Stock Exchange float or possible outright purchase by a foreign sovereign wealth fund.

Homing in PERSIMMON, which has a market value of £4.7 billion (€5.5 billion) and is the UK’s third most-important property developer after Taylor Wimpey and Barratt Homes, is said to be considering a takeover of its competitor Cala. Owned by Legal & General, the Cala deal would cost around £1 billion (€1.17 billion). 

Take a seat CRITERIA CAIXA, CaixaBank’s investment company, and the Real Automobile Club de Catalunya (RACC) are returning to the Barcelona Chamber of Commerce.  They left owing to the business association’s former pro-independence stance and following board changes both will now pay at least €75,000 to occupy Cambra seats. 

Sob story ONLINE fast fashion retailer Boohoo has given up on plans to pay a £1 million (€1.75 million) bonus to each of its three top executives.  Shareholders have rebelled after sales fell to £1.8 billion (€2.12 billion) and the company racked up a £95 million (€111.7 million) debt for the financial year that ended in February 2024.

Wedding blues PRONOVIAS, famed for its lavish wedding dresses, announced losses of €93.1 million in 2023 following a 9 per cent reduction in sales and setbacks stemming from the pandemic.  The company also revealed plans for a series of “staff adjustments” expected to affect 85 employees at its Barcelona offices.

Numis numbed DEUTSCHE BANK, which acquired London-based stockbroking group Numis for £410 million (€482 million) in April 2023, has halted its US operations. Nunis’s value has been slashed to £200 million (€233 million) and US staff will either merge with the Deutsche Bank’s own New York head office or relocate.

More beer HIJOS DE RIVERA brewery, which owns Estrella Galicia beer, reported sales of €829 million in 2023, 14.5 per cent up on 2022.  With its A Grela (La Coruña) plant functioning at full capacity to produce 500 million litres, the company now awaits the inauguration of a second plant in Moras, also in La Coruña.

Madrid sale HUGH GROSVENOR, the billionaire Duke of Westminster, is selling one of his four remaining assets in Spain, an office block in Madrid’s Calle Titan, to the GMP real estate investment trust.  Sector sources revealed that more than €40 million will have changed hands.

No ties KAREL KOMAREK, the billionaire Czech owner of Allwyn which runs the UK’s national lottery, severed his links to Russia’s Gazprom energy company.  Politicians have criticised Komarek’s links via his MND company, which in turn owns Moravia Gas Storage (MGS).

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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca province and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.

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