Universal buys Port Aventura stake

Article Abstract:

Los Angeles, CA-based Universal Studios will purchase a 37% controlling stake of Port Aventura, the second biggest theme park in Europe. The entertainment firm paid $66.9 million for full control of Port Aventura's management, future development, marketing and on-site operations. Universal Studios, also a subsidiary of Canada's Seagram Co., acquired the stake from Tussauds Group Ltd., the entertainment unit of Britain, UK's Pearson PLC. The acquisition is seen as the firm' initial step under its expansion into the European recreation market and will help it compete with the biggest theme park in Paris, Euro Disney SCA.

Comment:

Will purchase a 37% controlling stake of Port Aventura for $66.9 million from Tussauds Group of Pearson

United Kingdom, United States, Motion Picture and Video Industries, Amusement and Theme Parks, Motion Picture & TV Production, Theme Parks, Amusement parks, Pearson PLC, Universal Studios Inc.

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Iberdola to acquire 2.3% stake in Portugal's EDP

Article Abstract:

Iberdrola SA, the second largest electric utility firm in Spain, announced its intention to purchase a 2.3-percent in Electricidade de Portugal (EDP), the state-owned utility in Portugal. The deal is part of Iberdrola's strategy to promote its growth in Europe and Latin America. A special focus is given on the electricity sectors of Brazil and the remaining parts of Latin America in the negotiations on the deal, which will also foster joint participation in international ventures. The 2.3-percent stake is estimated to be worth around 50 billion pesetas at current market price.

Comment:

Announces intention to purchase a 2.3-percent in Electricidade de Portugal, the state-owned utility in Portugal

Electric Utilities, Electric Power Generation, Transmission and Distribution, Portugal, Iberdrola, Electricidade de Portugal S.A.

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Banco Sabadell to acquire stake in Banco del Bajio

Article Abstract:

Banco Sabadell SA of Spain has agreed to purchase a 10% interest in Banco del Bajio of Mexico for $4 million. The venture of the mid-size bank into the Latin American market follows a warning by Bank of Spain Gov. Luis Angel Rojo on investing in the region. Banco del Bajio has assets of $300 million with 200 employees, primarily in the state of Guanajuato. Banco Sabadell could bolster the range of services it offers to the growing number of Spanish customers with business in Latin America, through the purchase.

Comment:

Agrees to purchase a 10% interest in Banco del Bajio of Mexico for $4 million

Commercial Banks, Commercial Banking, Foreign operations, Mexico, Banco del Bajio, Banco Sabadell SA

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