Spain's Caixa confirms plans to acquire remaining stake in Portugal's BPI for €1.113/shr, valued at €1.6B
- Company to offer €1.113 (€1.329 from previous offer) per share for the stake in BPI that it doesn't already hold
- Cash offer dependent on acceptance topping 50% of BPI
- Expects to close deal by end of third quarter
- Sees BPI acquisition to hit fully-loaded core capital by between 97-146 bps depending on acceptance
- Estimates restructuring costs of around €250M
- Offer dependent on bank eliminating 20% shareholder rights limitation