Spain's Liberbank to bring in investors ahead of capital hike

MADRID Tue May 20, 2014 6:07am EDT

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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)

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