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Spain says gets investors in bad bank without BBVA
December 13, 2012 / 10:31 AM / 5 years ago

Spain says gets investors in bad bank without BBVA

MADRID, Dec 13 (Reuters) - Spain has secured private investment from all of its main banks except BBVA for the so-called ‘bad bank’ Sareb, the Economy Ministry said on Thursday in a statement.

The investors are Santander, Caixabank, Popular, Sabadell and healthy savings bank Kutxabank, as well as a group of private insurers.

Sareb will have an initial capital base of 3.8 billion euros ($5.0 billion) and will eventually reach 5.0 billion, of which 25 percent is equity and the remaining subordinated debt, the ministry said.

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