MADRID Broker UBS said on Thursday it had placed the 12 percent stake in Spanish insurer Mapfre (MAP.MC) held by the country's largest state-rescued lender Bankia (BKIA.MC) for 2.647 euros ($3.6) per share for a total of almost 1 billion euros.
The sale represents a discount of almost 3.8 percent from Mapfre's closing share price of 2.753 euros per share.
UBS, handling the deal alongside Bankia Bolsa, said that a total of 369.61 million shares were offered in the placing.
(Reporting By Jose Elias Rodriguez, Writing by Paul Day; Editing by Fiona Ortiz)
Allianz expects loss of around $224 million from sale of OLB
FRANKFURT, June 25 German insurer Allianz expects to book a loss of around 200 million euros ($224 million) from the sale of private bank Oldenburgische Landesbank to U.S. private equity firm Apollo, it said on Sunday.