Spain's Liberbank to bring in investors ahead of capital hike
MADRID May 20 (Reuters) - Spanish lender Liberbank said on Tuesday it was planning an accelerated share placement to bring in investors before proceeding with a further capital raising, which it is carrying out to pay back state aid.
The bank, among lenders which took part of a 41.3-billion-euro ($56.66 billion) European rescue when it was hurt by a property crash, said it was in talks with various investors interested in taking a sizeable chunk of its capital, but had not reached any deal yet.
It said its main shareholders - a group of saving banks - could reduce their stake to just under 50 percent through the share placement, from around 66 percent now. Liberbank has hired Deutsche Bank to also work on a 500-million-euro rights issue. ($1 = 0.7289 Euros) (Reporting by Sarah White, Editing by Julien Toyer)
- Israel keeps up Gaza assault; diplomats seek ceasefire |
- With sales sputtering, Apple's iPad looks to IBM alliance
- Rebels likely downed Malaysian jet 'by mistake': U.S. officials
- Islamic State crushes and coerces on march towards Baghdad
- Five held in China food scandal probe, including head of Shanghai Husi Food