Latest Business Developments in Spain and the UK: A Roundup

04 Sep, 2024

Latest Business Developments in Spain and the UK: A Roundup

Brookfield Asset Management is in talks with banks to refinance Grifols' €9.5 billion debt, signaling a potential takeover of the Spanish plasma therapeutics company. Shares in Grifols surged by 6% in Madrid as news of Brookfield’s plans emerged. Sources indicate that the refinancing might be in dollars, with banks committing to the loans before distributing them to third-party investors. This move follows the July announcement that Grifols and Brookfield had agreed to take the company private, leading to its eventual delisting.

The UK Post Office revealed it spent £256.9 million on legal services between 2014 and 2024, addressing the Horizon IT scandal, which wrongly accused subpostmasters of financial discrepancies caused by software errors. The legal costs nearly match the £261 million paid out in redress to the victims.

Spanish football star Alvaro Morata and his partner sold part of their Manolo Bakes stake for €5.5 million. UK’s VGO Capital became the principal shareholder, investing €27.5 million and planning international expansion.

Lastly, Talgo is in negotiations to supply Saudi Arabia Railways with 20 additional high-speed trains. Talks are ongoing due to rising costs since the initial €1.6 billion contract in 2012.