I want to keep the News (and Macro) tab clean. There are a lot of lines related to NCG in News-Acquisition, to be replaced by a summary line, with the details in this post.
- 2014/08/12. 30% of Catalunya Bank customers would leave the bank if name set to Spanish entity (BBVA) (ES)
- 2014/07/21. Spanish economy minister could change some DTA rules related to Cataluyna bank and this would mean decision later (ES)
- 2014/07/19. Only Santander and Caixabank left to buy Cataluyna bank branches in Catalonia (ES). Decision this Monday July 19th (to July 24th) ? (ES)
- 2014/07/16. Blackstone gets the NPL real estate of Cataluyna bank for €3.5bi (ES)
That is not that part that is interesting for SAN.
The FROB provides €572mi to cover the sell price/book value difference, in effect facilitating the sales of the Cataluynian branches (reuters) - 2014/07/04. Due diligence for Catalunya bank: €1.4bi additional provisions to take (ES)
Buyers ask for this amount to be assumed by Spain, and this requires EU authorization. - 2014/06/18. Catalunya Banc privatization: competition between Santander and La Caixa (ES)
- 2014/06/05. Catalunya bank: 12 offers, 5 going to 2nd round (July 14th), including Santander's offer (ES)
- 2014/05/27. Catalunya bank privatization restarted (ES)
That is the 3rd tentative. Target date end of June. In pieces, Santander is favorite for the branches in Catalunya. History in a separate post.
On Mai 30th: all banches to be sold in one block, because there was no purchase interest for the banches outside Catalunya (ES) - 2014/05/19. Analysis of the interests in NCG with focus on Botin (ES)
- 2014/05/15. 3rd tentative to sell Catalunya Banc started (ES) and (ES)
A priori Santander is the most interested buyer. - 2014/04/20. Process still under way... (ES)
- 2014/02/08. Preparations for the privatization (ES)
- 2014/01/21. Santander wants €4bi asset loss protection, EU refuses (ES)
- 2014/01/10. First moves around Catalunya bank this year (ES)
- 2014/05/08. Banesco pays the 1st €400mi (ES)
- 2014/03/14. Banesco still searches for financing its purchase (ES)
- 2013/12/24. Banesco starts to sell €4bi of NCG assets (ES)
- 2013/12/18. Banesco (Venezuelan bank) wins NCG at 1st round (ES) or here (ES)
- 2013/12/18. Current NCG status: waiting for EC approval of state guarantees for future losses (ES)
- 2013/12/17. Bids for NCG from Santander (and BBVA) are formal (ES)
and will not go to 2nd round - 2013/12/16. 6 bids for NCG (ES)
Santander, BBVA, CaixaBank, Banesco+Guggenheim, JC Flowers, Wilbuir Ross y Anchorage.
Now analysis. In case a bid is significant better than the other (€200mi), it wins. If not 2nd round with the 3 best bidders. - 2013/12/16. Last version for NCG privatization conditions (ES)
Warranty against losses, warranty against customer indemnifications, €2.3bi of DTA kept in capital, €2.2bi of DTA out of capital, together with the fact that forgiving DTA in a bid will not be considered (gives an advantage to the big banks against the investment funds and Banesco) - 2013/12/16. Today: bids for NCG (ES) and (ES)
Deadline was changed for 12/13 to 12/16 last week. - 2013/12/13. Last day before NCG bids. An overview (ES)
- 2013/12/10. Current status for NCG (ES)
- 2013/12/04. Guggenheim offers more to win NCG privatization (ES)
Commitment to investments in companies, and increase of credit.
Banesco (a Venezuelan bank) is also pushing (ES) - 2013/12/01. NCG privatization, full steam ahead. (ES)
We can have a decision by 2013/12/13. The article is a nice overview of the moves of most of the interested parties: BBVA, La Caixa and Guggenheim. No indication about Santander moves. - 2013/11/25. News about Catalunya bank (ES)
No one wants it, except in case they receive also a lot of money. Could be only the branches and passive put to sell. Could also be sold in a pack together with NCG - 2013/11/20. Bids for NCG to 2013/12/13 (ES)
And here are some more history about NCG and Catalunya bank that I unload from the bookmarks. The privatization of NCG was a very long process. Catalunya bank will be privatized beginning of 2014, but odds that Santander wins are low (will be too many bidders).
No comments:
Post a Comment