Company in Spain

  • Spain's Ebro Foods takes 52% share of Garofalo pasta

    ITALY, 2014/06/05 Italian premium pasta maker Pastificio Lucio Garofalo announced Wednesday it signed a preliminary agreement to sell a majority 52% stake to the listed, Spanish multinational Ebro Foods for a total investment of 62 million euros. Ebro Foods is active in the rice, pasta, and condiment sectors, and quoted on the Madrid stock exchange. Garofalo called Ebro Foods an industrial partner with a solid background with which to grow on the basis of a common vision that will "preserve the identity of the company and the product, which owe their distinctive and differentiating traits to the leadership, the workers, inclunding the production site". Development, the Campanian group said, will continue to be managed by headdquarters in Gragnano. Garofalo Chief Executive Massimo Menna said the transaction enables the Italian company to "consolidate the success of our pasta in the world".

  • Telefónica continues to struggle for growth in Q3

    SPAIN, 2013/11/10 Spanish operator Telefónica (NYSE: TEF) continued to struggled to achieve revenue and net gain increase in Q3, but has reduced net deficit to below its year-end target of 47.0bn euros (US$63.1bn), the company said in a results release. Telefónica saw revenues down 9.5% to 14.1bn euros in Q3, although this would have increased by 2.1% on a constant currency basis. The foreign exchange chief winds appear to be related to ongoing currency effects in Latin American markets.

  • Pescanova 'faked' annual turnover in 2011 and 2012 by 80%, says KPMG audit

    SPAIN, 2013/10/25 In the forensic audit statement, to which the agency EFE had access, it appears that the operations had the code RCM (Red 060 Commercial Major) and that they posed no real goods transaction. The statement clarifies that the prices at which the fictitious sales were recorded -- because there was no movement of goods -- were significantly higher than those conducted with real customers that had been assigned other codes. KPMG analyzed the transactions from 2012, in which it is noted how Pescanova sold to these firms products such as '4/6 bonbon 5k hake fillets' at an average unit price of EUR 42.34 while to the actual customers the firm did so at EUR 3.10, giving a difference of 1,264.68%.

  • Focus on dividends - Telefonica's cut doesn't scare Spanish yield investors 2012-08-07

    SPAIN, 2012/08/07

  • InverCaixa launches Foncaixa DP España 2014 2012-07-31

    SPAIN, 2012/07/31
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