MADRID Jan 16 Spanish banks Bankia
and Caixabank on Thursday announced stake sales in
other companies as lenders bulk up capital ahead of Europe-wide
health checks of their balance sheets this year.
Bankia and its parent company BFA said they had put all of
their 12.6 percent stake in the hotel group NH Hoteles
up for sale. The stake is worth around 192 million euros ($261
million) at Thursday's closing price.
Caixabank said it had sold its 5 percent stake in the stock
market operator BME to institutional investors at 29.6
euros per share, netting capital gains of 47 million euros for
This was slightly below BME's Thursday closing price of
Spain's bailed-out banks, such as Bankia, have been among
the most active sellers of industrial holdings as they slim down
as part of their restructuring plans.
Bankia has already sold stakes in IT company Indra,
International Airlines Group and insurance group Mapfre
. It still has to sell 5.14 percent of utility Iberdrola
At the end of 2012, La Caixa, Caixabank's parent group,
raised 1.65 billion euros by cutting its majority stake in
Caixabank. It also raised funds though a bond that could be
exchanged into part of its stake in Spanish oil major Repsol
JB Capital Markets will act as book-runner for the Bankia
operation, while Citigroup sold Caixabank's stake in BME.