Spain's Bankia sells broker for 37 mln euros
MADRID Oct 9 (Reuters) - Spain's largest state-rescued lender Bankia said on Wednesday it had agreed to sell its broker Bankia Bolsa for 37 million euros ($50.3 million) to local rival General de Valores y Cambios.
Bankia said in a statement it would bank a 35 million euro capital gain from the sale, which is part of its effort to dispose of non-strategic assets to comply with a restructuring plan agreed with the Spanish bank bail-out fund FROB and the European Commission.
Bankia, which was nearly felled by soured property deals from a five-year old real estate crash, took 18 billion euros of funds from Europe last year to build up its capital, as part of a broader rescue of ailing Spanish banks.
The 63 people working for Bankia's brokerage unit will stay under on under GVC, Bankia said.
Separately, Bankia and Spanish construction group FCC are hoping to sell their majority stake in property firm Realia, according to sources familiar with the matter.
($1 = 0.7355 euros) (Reporting By Paul Day, Editing by Sarah White and Jane Merriman)