Havas aims to buy Anaya as part of Spanish growth

Article Abstract:

Havas SA of France, a wholly owned company of Vivendi SA, has tendered a 35-billion peseta ($244.6 million) bid to acquire Anaya SA, the second-largest publisher in Spain, as part of its strategy to expand further into the Spanish-language markets for textbooks and reference books. Havas' offer of 8,666 pesetas per share represents a 35% premium over the Sept. 10, 1998 closing price of Anaya's stock. Anaya, which has 11% market share of the Spanish publishing market, is the market leader in textbook publishing, with 33% share, as well as in the educational multimedia market, such as CD-ROMs, with 40% share. The publsiher reported a net profit of 1.4 billion pesetas on group sales 33.5 billion pesetas in its fiscal year that ended June 30, 1998.

Comment:

Has tendered a 35-bil peseta ($244.6 mil) bid to acquire Anaya SA, the second-largest publisher in Spain

Book Publishers, Textbooks, Havas SA, Anaya SA

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Argentaria to sell 40% of BCL unit to Dexia

Article Abstract:

Argentaria Corp. Bancaria de Espana has signed a $419.8-million deal to sell a 40% share in its public-sector financing division, Banco de Credito Local de Espana, to Franco-Belgian group Dexia. After the completion of the sale, Argentaria will consolidate Banco de Credito Local with Dexia Banco local, Dexia's subsidiary in Spain, creating a giant entity that will offer financing services to Spain's public sector. The new entity will have the capacity to secure market share and grab a foothold into new markets, mainly that markets in Latin America.

Comment:

Signs a $419.8-million deal to sell a 40% share in Banco de Credito Local de Espana to Dexia

Commercial Banks, Commercial Banking, Dexia, Argentaria Corporacion Bancaria de Espana S.A., Banco de Credito Local de Espana

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European Companies Forge World's Largest Steel producer

Article Abstract:

Usinor SA of France, Arbed SA of Luxembourg, and Aceralia Corporacion Siderurgica SA of Spain agreed to merge and form a holding company which would acquire their assets and become the largest steel company in the world.

European Union, Primary Iron & Steel, Iron and Steel Mills and Ferroalloy Manufacturing, Blast Furnace and Basic Steel Products, Luxembourg, Mergers, acquisitions and divestments, Steel industry, Aceralia Corporacion Siderurgica S.A., Arbed S.A., Usinor SA

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