Colombian banker Gilinski to sell 3 pct stake in Spain's Banco Sabadell

MADRID, Nov 21 (Reuters) - Colombian billionaire Jaime Gilinski has agreed to sell a 3 percent stake in Banco Sabadell , worth about 212 million euros ($225 million), to institutional investors, according to a sock market filing on Monday.

Gilinski, one of Latin America’s wealthiest bankers, became the biggest single shareholder in Sabadell in 2013 when he bought a 5 percent stake as part of its 1.4 billion euro capital raising to fund its acquisition of Britain’s TSB.

He then increased his stake in Sabadell, Spain’s fifth-largest bank, to 7.5 percent before reducing it to the 5 percent threshold that obliges investors to declare holdings.

Gilinski’s investment vehicle, Itos Holding Sarl, is now selling a 2.99 percent stake through an accelerated bookbuilding being handled by Deutsche Bank, a statement to Spain’s stock market regulator said.

Sabadell and Gilinski have often been commercial partners, with the former buying close to a 5 percent stake in Colombia’s Banco GNB Sudameris, controlled by Gilinski, for about $50 million. ($1 = 0.9433 euros) (Reporting by Jesús Aguado; Editing by Angus Berwick and David Goodman)