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CaixaBank SA Gains EUR 524 Million Through Its Subsidiary’s Deal With Berkshire Hathaway Inc-Reuters

Friday, 30 Nov 2012 02:45am EST 

Reuters reported that CaixaBank SA will book EUR 524 million in capital gains after reaching by its subsidiary VidaCaixa, Sociedad Anonima de Seguros y Reaseguros (VidaCaixa) a reinsurance agreement for the transfer of its life insurance portfolio to Warren Buffet's Berkshire Hathaway Inc (Berkshire ). Berkshire will pay VidaCaixa a fee of EUR 600 million for the deal.