Spain’s Caixabank boosts stake in BPI
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- Created on Monday, 23 April 2012 12:29
Caixabank, which is consolidating its position as Spain’s biggest domestic retail bank, has struck a deal to increase its stake in Banco BPI in Portugal to almost 49 per cent in its latest foreign expansion.
In a regulatory filing in Madrid, Caixabank, the listed banking arm of Barcelona-based La Caixa, said it had agreed to buy 18.87 per cent of BPI from Brazil’s Banco Itaú for €93.4m ($123.5m) – a price that Spanish bankers said was so low Caixabank could not resist. (continue reading on original link)
Source: The Financial Times
