“Abanca and its controlling shareholder have decided to renounce their interest in promoting a possible corporate transaction between Abanca and Liberbank and, consequently, does not present a takeover bid on Liberbank,” the Galician entity reported in a relevant event sent to the Blank September 2019 calendar. Abanca sent a letter last Friday to the board of Liberbank in which it informed him of his intention to launch a bid for 1,700 million euros, conditioned that yes to that before setting the final price could see their accounts and make a “was diligence ” However, yesterday at the opening of the market the CNMV abroncó to the address of Abanca indicating that this conditioning is not admissible under the law of opas, and urged him to decide whether or not to launch a formal takeover within ten days.
Blank September 2019 calendar
Abanca defends in its statement that its claim was completely legitimate and usual in this type of operations, and ensures that it has always acted in good faith. The movement of Escotet last Friday was in any case seen as a hostile takeover of Liberbank, when it negotiated and set itself with its back to its majority shareholder, Cajastur, and its management team, led by Manuel Menéndez. The offer also broke into the advanced talks between Liberbank and Unicaja in the face of a merger and the creation of the sixth bank in the country. Autogrill, the leading Italian group in catering and gastronomic offer for travelers, already has a new manager for the Iberian Peninsula. It is José Mª Palencia who has been appointed as the new president of the Autogrill group in Spain and Portugal. An appointment that is part of the strategic plan for renovation and development envisaged by the Italian multinational in 2019, according to the company in a press release.
In this sense, from Autogrill have added that with this decision seeks to “strengthen its leadership in Spain and Portugal to address new projects and initiatives.” In addition, Palencia will be the maximum responsible for the institutional and strategic relations that the Italian group maintains in both countries. José Mª Palencia, is an economist and MBA from the Luigi Blank September 2019 calendar University in Milan, and has developed a long professional career with positions of maximum responsibility in several companies among which his stage as CEO of World Duty Free Group, former Aldeasa stands out. In his fifteen years at the helm of World Duty Free Group, he transformed the company into one of the world’s leading operators in the Travel Retail & Duty Free sector and led its successful IPO in Milan.