Vips takes up 100% in Starbucks Spain

The group closed a syndicated loan of 70 million to finance part of the repurchase

Starbucks coffee Spain

Grupo Vips has done it again with 100% of Starbucks Coffee Spain after repurchase the 49% holding in two years and then sell to the American multinational, as announced Friday the group chaired by Placido Arango.

Specifically, Vips, Starbucks partner since 2001 to operate and develop the brand exclusively in Spain, and Starbucks Coffee have reached an agreement whereby the Spanish group repurchase 49% of the company that sold Starbucks Coffee Spain in September 2013 .

In addition, both groups have extended the loan spell of brand development, ending in 2021, until 2030. Thus, Vips returns to control 100% of Starbucks Spain and Portugal, the last country in which the Spanish company already he had and still maintains today 100% of Starbucks Coffee Portugal, to be excluded from the operation of 2013.

Arango stressed that this agreement is “a sign of the excellent relations that from the beginning of our partnership has been established between the two companies.”

70 million credit

In parallel, Grupo Vips has signed a syndicated loan of up to EUR 70 million with a group of four banks: BBVA, Santander, Sabadell and Popular. This funding, which will be used in part to the acquisition, also serve to refinance existing debt amounting to over 26 million euros and will allow additional resources to increase the pace of reform and modernization of the network of group entities 2016 and 2017.

The company stressed that the positive development, which has successfully completed its transformation plan and starts a new stage of growth, made possible repurchase operation. The purpose of the sale in 2013 was precisely to obtain the necessary financing to complete the implementation of the transformation plan without recourse to new borrowing.

Sum 90 stores in Spain

Starbucks currently has 90 stores in Spain and 11 in Portugal and plans a dozen openings and 10 store comprehensive reforms in 2016. Despite the adverse situation of the Spanish market in recent years, the brand has continued to improve its ratios, highlighting, according to the company, its good performance in sales, “remarkable” growth in gross operating profit (Ebitda) and the rise in the number of units.

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Oldest olive tree of…….

The oldest olive tree in Spain has 1701 years and is in Ulldecona (Tarragona)

Oldest olive tree-Ulldecona-Tarragona

A study by the Polytechnic University of Madrid (UPM) has determined that the olive tree known as ‘the Farga de Arion’ in Ulldecona (Tarragona), has an estimated age of 1701 years and would have planted therefore, in 314, in the reign of Emperor Constantine I (306-337 AD.).

The study was led by Professor of Mensuration of the School of Forestry, Forestry and Environment of the UPM, Antonio Prieto.

The study results show that olive Ulldecona monumental is the oldest dated tree Peninsula and is also among the oldest in the world.

Prieto also worked on dating the ‘Farga del Pou Mas’, which is in La Jana (Castellón), and in this case the estimated age is 1,182 years old and was planted in 833, during the Emirate of Abderramán II (822-852 AD.).

Dating works have focused on studying the perimeter of tree trunks 50 centimeters of soil and laser telemetry, has lifted the section has allowed for specific calculations to determine the age of the tree.

A method that has been used as an alternative to other methods such as carbon 14 or measuring the growth rings, not been possible to implement this project.

The work was sponsored by the Bank Santander Foundation at the request of the Commonwealth of the Taula del Sénia.

Senia Territory, made up of 27 people Valencia, Catalonia and Aragon, retains the highest concentration of monumental olive trees in the world: 4,798 over 3.50 meters in trunk circumference at 1.30 meters above the ground, spread across 22 villages.

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Barcelona will have its residential skyscrapers in Poblenou

The City Council has given the green light to building 100 meters high and 26 floors located on the Diagonal, between Bilbao and streets Pere IV

Recreation residential skyscraper on Avenida Diagonal, 131

The City Council has given the final green light to residential skyscraper 100 meters high and 26 floors located at Avenida Diagonal 131, corner of the streets Pere IV and Bilbao, which required a building permit last to complete the project.

The property, with 125 homes already sold, is owned by Altamira Santander Bank -the real estate, is being developed by the Catalan promoter Corp, and involves a total investment of over 70 million euros.

This is one of the real estate projects that stood in Barcelona during the housing crisis -the work was interrupted in 2008 by the problems of the developer initially and then was conceived as a 20-story building plus a large overhang.

After it adjudicase Altamira, the design changed to a 26-story project without overhang, but CiU led by the City Council was reluctant to this change, requiring a new license for six additional plants, which include a swimming pool with solarium on deck. Meanwhile Corp has been working on the existing structure of the skyscraper, and has achieved new building permit with the Consistory led by Ada Colau. The promoter is also pending license this year to get a promotion price of 130 homes concerted Can Batllo, of which 82 have already sold.

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