Sacyr Vallehermoso
Sacyr Vallehermoso, S. A. ( Grupo SyV ) is a listed Spanish holding company, the shares of companies in the field of construction, real estate development, leasing, contract concessions (roads and infrastructure ) holds and other services related to real estate. In addition, the conglomerate holds a stake of 10.01% in the oil and gas company Repsol YPF.
Sacyr Vallehermoso is one of the largest Spanish companies and is among other things traded on the Madrid Stock Exchange and the Euro Next and is in the stock market index IBEX 35 represented.
The latest figures from the year 2011 show a turnover of 3.949 billion euros. According to the company Grupo SyV operation in the year 2005 2.672 km of motorways, held 4,550,000 m² land and sold 5,500 units. The Group operates mainly in Spain, Portugal, France, Italy, Brazil and Chile.
Company History
The origins of the group lie in a construction company founded in 1921 in Madrid. In 1953, the company has been working as a developer and developed the 68,000 square meter Vallehermoso grounds on which there was a former tram depot. There were built numerous homes and a shopping center. The name of this area was henceforth also company name and the company was first listed on the stock exchange.
Since the 1960s, Vallehermoso characterizes the Madrid city 's image and more with the construction of department stores Galerias Preciados and El Corte Ingles, the high-rise of the BCH ( Banco Central Hispano ) or the Mapfre building.
In 2002, the Sacyr - Vallehermoso Group acquired 24.5% of shares. 2003 and Sacyr Vallehermoso decided to merge. Since 3 April 2003, the Group trades under its new name. In late 2006 the company had a market capitalization of 12,809 million euros so far the highest value.
Since spring 2007, Sacyr planned the acquisition of almost twice as large French Eiffage and wanted to ascend to the fourth largest construction company in Europe. The new group will also be one of the largest operators of motorways in Europe and Latin America, at that time announced Sacyr boss Luis Del Rivero in Paris. The new, combined entity would have over 3,400 kilometers of asphalt runway. April 19, 2007 Grupo SyV has submitted a bid for Eiffage and offered their own 12 for five Eiffage shares. A total of 33.32 % of Sacyr could Eiffage shares but do not acquire the majority. In April 2008, Sacyr announced that the acquisition had failed and sold his Eiffage stake for 1.92 billion euros to French financial investors. The background was that Sacyr could not represent the financing for the acquisition of competitors.
Early December 2008, Sacyr announced that the subsidiary ITINERE, the motorways in Spain, Portugal, Brazil and Chile is operated, sell for 2.8 billion euros to a fund of Citigroup will. Just wanted you to part with a 20 % stake in Repsol. Background of these transactions was a debt reduction program.
2009 was reported at 5,825 million euros, the highest ever sales. The Spanish real estate crisis had a negative impact on the subsequent course of business from. Late 2010 and early 2011, a capital increase was carried out with a total revenue of 497 million euros, respectively. In the summer of 2011, the capital was raised again. Whole, the number of shares outstanding of 305 million to 423 million rose In summer 2012, a further 21 million shares were issued.
Stake in Repsol YPF
From October to December 2006 Sacyr bought as part of a diversification and growth strategy accounted for 20.01 % of Repsol YPF for an average of 26.71 euros per share, or a total of 6525.5 million euros. The purchase was funded by a bullet after six years of credit in the amount of 5,175 million euros.
The loan was to be financed by higher dividend payments by Repsol YPF. This, however, could not be enforced.
2011 half of the original Akquistionskredits for Repsol YPF shares was renewed at a higher rate until 31 January 2015. The other half was settled through the sale of 122 million Repsol YPF shares at a price of 21.066 euros per share to the issuer. This resulted in a book loss of 940 million euros. Through nationalization of the Argentinean government, the share price of Repsol YPF fell. Therefore, in the summer of 2012 was the remaining credit in the amount of 2,354 million euros, only a share price of 1,500 million euros.