MADRID Jan 11 Spanish state-rescued lender
Bankia is in advanced talks with Goldman Sachs about
hiring the U.S. bank as its advisor on the sale of its Miami
business, two sources with knowledge of the negotiations said on
"It's almost a done deal that Goldman will be hired but the
deal has not been closed yet," said one of the sources.
At the end of November Bankia's chairman Jose Ignacio
Goirigolzarri said that City National Bank of Florida (CNB)
would be among assets due to be sold off as part of its enforced
The two sources said it was too early to put a price on the
Caja Madrid, one of the seven regional savings bank which
joined to form Bankia in 2010, paid $927 million when it bought
a 83 percent stake in CNB in 2008. It bought the remaining stake
at a later date, without disclosing the price.
CNB, with total assets of $4.3 billion at the end of the
second quarter of 2012, reported a net income of $19.8 million
for the first half of last year.