Stock Movers Sabadell Weighs Sale, Vestas Down, Apollo Deal
Jun 17, 2025
Banco Sabadell is contemplating a sale of its UK unit, TSB, amid takeover pressures from BBVA. Meanwhile, clean energy stocks like Vestas and Orsted are experiencing declines following new legislation from Senate Republicans aimed at cutting tax credits for renewable energy sources. In another significant move, Apollo Global Management sold its entire stake in Lottomatica Group, contributing to a surge of European block trades as investors react to the market's recovery.
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Early End to Wind Tax Credits
- US Senate Republicans propose ending wind and solar tax credits by 2028, earlier than expected.
- This causes clean energy stocks like Vestas and Orsted to fall in Europe.
Apollo’s Big Lottomatica Exit
- Apollo sold its entire 21.3% stake in Lottomatica, sparking a €2.3 billion wave of European block trades.
- Investors are capitalizing on a market bounce by offloading substantial stock blocks.
Irish Government Exits AIB Stake
- Irish government is selling its 2.9% stake in Allied Irish Bank, returning it to full private ownership.
- This move reflects ongoing aftermath of Ireland's 2010 banking crisis and market timing to capitalize on a recent rally.