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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