date:Dec 17, 2013
ng them the top gainers in Spain's blue-chip index.
A 100 million euro enterprise value for El Arbol would be equivalent to five times 2012 earnings before interest, taxes, depreciation and amortisation (EBITDA), or 12 percent of sales, analysts said.
El Arbol, controlled by a group of savings banks and two Spanish businessmen, is struggling with net debt which reached 31 million euros in 2012 after an acquisition spree in recent years. Its net profit in 2012 was 2.1 million euros.
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