Bankinter S.A. - Banco de Sabadell, S.A. (BNDSY) Sabadell: Sells its hotel management platform for â‚¬630mn

Report

Bankinter S.A.

Marisa Mazo

Sabadell: Sells its hotel management platform for â‚¬630mn

Sells its hotel management platform for €630mn

Sabadell has sold its 100% indirect stake in HI Partners Holdco Value Added to Halley Holdco, controlled by Blackstone. The price for the servicer amounts to €630mn with minor adjustments still pending and may generate €55mn of capital gains and 22bp to CET 1. The deal is conditioned to the perceptive legal authorisations.

17/10/2017 4 EN

Underlying

Banco de Sabadell, S.A.

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US0595681059 Spain

Provider

Bankinter S.A.

Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.

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Analysts

Marisa Mazo

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Sabadell: Sells its hotel management platform for â‚¬630mn

Reig Jofre: EBITDA maintains its growth in 1H20 (+40%) driven by sales (+25%) and cost efficiencies

Reig Jofre: EBITDA increased +43% in 1Q20 fuelled by sales (+26%) and a higher EBITDA margin

Reig Jofre: EBITDA (adj.) +17% in 2019 and guidance is 2x in a five-year plan

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