Bankia gives Credit Suisse mandate to sell Metrovacesa stake before year end
Bankia intends to sell the 19.07% stake it holds in the Spanish property company Metrovacesa before the end of the year, Europa Press reported citing unspecified official sources from the nationalised Spanish bank. Credit Suisse has the mandate, according to the report.
When it exited the stock market on 13 May 2013, Metrovacesa was worth EUR 2.233bn, the Spanish-language report said. It then reduced its capital by EUR 1.077bn.
As well as its Metrovacesa stake, Bankia still hold industrial stakes in the property company Realia (24.95%) and the infrastructures group Globalvia (50%). The report cited sources from the bank who said Bankia plans to sell those during the first half of next year.
Source Europa Press