CaixaBank: confirms merger with Bankia
(CercleFinance.com) - Both entities Boards of Directors have approved the deal, which is to be carried out in the form of a merger by absorption of Bankia by CaixaBank.
The agreement is for an exchange of securities at 0.6845 new ordinary shares of CaixaBank for each Bankia share and includes a 20% premium on the exchange ratio at close of business on 3 September.
The new entity, which will retain the CaixaBank brand, will be the leading bank in Spain with over 20 million clients, and respectively a 25% and 24% share of loans and deposits.
José Ignacio Goirigolzarri will be the entity's Executive Chairman and Gonzalo Gortázar its CEO.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The agreement is for an exchange of securities at 0.6845 new ordinary shares of CaixaBank for each Bankia share and includes a 20% premium on the exchange ratio at close of business on 3 September.
The new entity, which will retain the CaixaBank brand, will be the leading bank in Spain with over 20 million clients, and respectively a 25% and 24% share of loans and deposits.
José Ignacio Goirigolzarri will be the entity's Executive Chairman and Gonzalo Gortázar its CEO.
Copyright (c) 2020 CercleFinance.com. All rights reserved.