UBS, Citigroup to handle sale of Bankia stake in Iberdrola

MADRID, April 9 Wed Apr 9, 2014 1:17pm EDT

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MADRID, April 9 (Reuters) - UBS on Wednesday said it had received a mandate from Spanish bank Bankia to sell its 4.94 percent stake in Spanish utility Iberdrola through an accelerated book building process.

In a notice sent to Spain's stock market regulator, UBS said it would act as joint bookrunner with Citigroup while Bankia's broker BEKA Finance would act as co-bookrunner. (Reporting by Julien Toyer; Editing by Sonya Dowsett)