Spain says gets investors in bad bank without BBVA

MADRID Thu Dec 13, 2012 5:29am EST

MADRID Dec 13 (Reuters) - Spain has secured private investment from all of its main banks except BBVA for the so-called 'bad bank' Sareb, the Economy Ministry said on Thursday in a statement.

The investors are Santander, Caixabank, Popular, Sabadell and healthy savings bank Kutxabank, as well as a group of private insurers.

Sareb will have an initial capital base of 3.8 billion euros ($5.0 billion) and will eventually reach 5.0 billion, of which 25 percent is equity and the remaining subordinated debt, the ministry said.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.