Spain's CaixaBank To Buy 18.87% Stake In Portugal's BPI From Itau
April 20 2012 - 4:13PM
Dow Jones News
Portuguese bank Banco BPI S/A (BPI.LB) said Friday that Spain's
CaixaBank SA (CAIXY, CABK.MC) will buy an 18.87% stake in the bank
from Brazil's Itau Unibanco Holding S/A (ITUB, ITUB3.BR, ITUB4.BR)
for EUR93.42 million.
The stake, sold at EUR0.50 a share, will increase CaixaBank's
holdings in BPI to 48.97%, the bank said in a statement.
CaixaBank said in a separate filing that it got an exemption
from the Portuguese market regulator from having to launch a
takeover bid for 100% of BPI because the purchase won't give the
Barcelona bank control of BPI.
-By Patricia Kowsmann and Christopher Bjork, Dow Jones
Newswires. Tel +351-916-466-297, patricia.kowsmann@dowjones.com
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