Spain's Bankia says to place 12.1 pct stake in IAG

MADRID, June 26 Wed Jun 26, 2013 1:36pm EDT

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MADRID, June 26 (Reuters) - Spanish nationalised lender Bankia said on Wednesday it is placing its 12.1 percent stake in the International Airlines Group , which owns British Airways and Iberia.

In a statement, Bankia said the stake will be sold through an accelerated bookbuilding led by Merrill Lynch and Bankia Bolsa.

IAG's shares closed at 3.10 euros each in Madrid on Wednesday, valuing a 12.1 percent stake at 697 million euros ($906.28 million).

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