Caixabank is Considering Selling a 9.92% Stake in Grupo Erste for $1.92 Billion

CaixaBank, Spain, said Thursday that it is considering selling its entire 9.92% stake in the Austrian bank Erste Group Bank.

According to Refinitiv data, the current market value of this stock is around € 1.65 billion ($ 1.92 billion), given the Austrian lenders 429.8 million shares and Thursday’s closing price of € 38.76.

Lenders, mainly based on the September 30th rate, the full selling capacity of the first interest will have a dust-free impact on the backline and a high-quality impact of 15 key elements at central level 1. Said there is a possibility, ratio.

Like some banks in Spain and Europe, CaixaBank, which completed its acquisition of Bankia in March, is trying to adapt to increasingly stringent solvency needs, and regulators pay attention to central banking operations.

Caixabank has not split a 5.42% stake in EBS, so the stake can be sold in a one-time step. This allows you to promote to previously recognized positive buyers.

In addition, Caixabank has indicated that it has decided to establish an equity swap of its underlying assets with 4.5% of its shares by converting the underlying shares to equity swap counterparties.

Caixabank said the sale of all Caixabanks shares to Erste Bank could be market-dependent in the long run. Caixabank has put up 9.4% of the capital of the small billing platform Bizum, as evidenced by the coordination of this business.

After the merger of CaixaBank and Bankia, the new financial entity will take a 33.4% stake in Bizum, including 23% previously owned entirely by Catalan entities and 11% owned by accidental Bankia.

However, according to the legislation of a pricing platform in which all Spanish banks participate, no company can exceed 24% of its capital, so the company chaired by José Ignacio Goirigolzarri has already sold 9.4% of its surplus. It has started. It’s capital.

The CaixaBank reconciliation states, “We are paying attention to the entity that checks if this participation needs to be purchased.”

The immediate-release sales process by financial institutions takes a month and will end by July 12 if the parties are involved. Santander is the second-largest shareholder in Bilbao with 18%, while BBVA has 16% and Sabadell has 10%. Other entities make up the last 22%.

Economic adjustments have guaranteed that this will be the first business to drive a stake in Bizum, and the platform, launched in October 2016, will be listed for the first time.

After a particularly slow start than originally expected, Bizum is now sailing within reach of its customers and operations. It already has more than 15 million customers and 370 million businesses, paying € 18,000 million for food, Netflix, gifts, and accessories. 11,500 e-commerce is already using Bizum.

Caixa Bank, the most important financial institution in the Spanish market, has renewed its cooperation agreement in 2009 with the Erste Foundation, a major shareholder of Erste Group Bank.

Group bank’s permanent shareholder group under a new liquidation phrase adopted by Austrian regulator Caixa Bank, led by President Isidro Fainé and CEO Gonzalo Gortázar, in addition to maintaining WSW, some of their foundations. In total, these entities own a 30% stake in Erste Group Bank.

This method of renewed settlement that Caixabank, like the various solid fellow, will vote according to the Erste Foundation while the members of the supervision are elected.

From the next Annual General Meeting (AGM), scheduled for 2015, Caixabank may be eligible to name a member 2D to the Erste Group Supervisory Council.

Increase Of Interest in Caixabank

In addition, Caixabank increased its interest with the group of Erste Bank from 9.1% to 9.9th, one that gets 3.5 million of Erste Foundation shares.

After this acquisition, made in market prices, the participation of Erste’s strategic partners in the following:

Erste Foundation 11.9, Caixabank 9.9%, Savings banks and their maintenance entities of five.2%.

WSW, the maintenance of the AID 3.0% insurer.

Global payments and Caixabank announce the joint venture of Central and Eastern Europe with Erste Group Bank

​​Spain and Vienna – (Business Council) – Some of the main monetary offers in Central and Eastern Europe (EEG) today offered an agreement to form a joint project to offer service providers offering presentations in 3 intermediate locations in Central Europe and East: Czech Republic, Slovakia and Romania offered and charged.

Caixabank is a strategic accomplice of global payments in Spain and Brazil, and EEG markets. Erste Group Bank, located in Vienna, is one of the bigger monetary institutions with the Japanese part of the EU.

Only, taking into account its base in 1819 as the first financial savings financial institution of Central Europe, Erste Group raced a business method aimed at the real economy.

Erste Group has a large bank footprint with more than 2,800 branches in 7 nations and 16.2 million customers. Caixabank is a Frunnner in global technological innovation and is a pioneer of the latest load systems.

It was appointed because the most innovative bank in the world by Euromoney in 2014 and 2013, and currently received the innovative spirit at the Bank Bank awards at the Global Banking Innovation prices, organized by the Banking and Find Framework Institute.

“This joint project will see the global presence of Caixabank by benefiting from its biggest strengths: the capacity for technological innovation, which is world-renown, and cooperation with global counterparts, including global payments and the group bank,” Gonzalo Gortázar said.

Global payments and Caixabank will pay 30 million euros in currencies to build a majority possession of fifty-one percentage with the project.

Erste Group will contribute to your current service provider to agencies in each of the 3 nations to the joint project and can maintain a greater percentage of interest.

The deal is expected to be closed with 2D 1/2 of financial 2016, the problem of receiving the regulatory.

Caixabank is considering selling a 9.92% stake in Grupo Erste for $ 1.92 billion. There will be more news from this next week.

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