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CaixaBank SA To Give One Share for 479 Banco de Valencia SA’s Shares-DJ


Thursday, 4 Apr 2013 06:48pm EDT 

Dow Jones reported that the Boards of CaixaBank SA and Banco de Valencia SA approved on April 4, 2013 the share-swap ratio for the minority shareholders representing 1.1% of Banco de Valencia SA's capital, as part of Banco de Valencia SA’s integration into CaixaBank SA. Caixabank SA, which already controls 98.9% of Banco de Valencia SA, said it will swap one of its shares for every 479 Banco de Valencia SA’s shares. That ratio values Banco de Valencia SA at EUR 2.54 billion (USD 3.28 billion) or EUR 0.00553. Caixabank SA's Board also approved the purchase of subordinated bonds convertible into Banco de Valencia SA’s shares and has agreed to pay each of the close to 4,000 bondholders EUR 450 per bond. Banco de Valencia SA's integration process into Caixabank SA is expected to be completed by the end of July 2013. 

Company Quote

3.988
-0.019 -0.47%
4 Mar 2015