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Spain sells Banco Gallego to Sabadell for one euro -FROB
April 19, 2013 / 4:02 PM / 5 years ago

Spain sells Banco Gallego to Sabadell for one euro -FROB

MADRID, April 19 (Reuters) - Spain’s bank restructuring fund FROB said on Friday it would inject more capital into small nationalised lender Banco Gallego and sell it to larger peer Sabadell for 1 euro ($1.31).

FROB, which has stakes in several bailed out banks, said it would subscribe to a 245 million euro capital hike in Banco Gallego before the disposal. ($1 = 0.7644 euros) (Reporting by Sarah White, Editing by Fiona Ortiz)

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