Bankia Benefits From NH´s Appreciation on the Stock Market & Sells 12.5% of Capital

17/02/2014 – Expansión

Bankia carries on with the intensive divestment process, prolonged for 2014. The bank has taken advantage from the advance of the NH Hoteles on the stock market to leave the chain by selling its 12.59% holding. (…).

The NH closed yesterday with €4.94, after little way up (by 0.3%). Since the beginning of the year, the company´s assets climbed up by 15.3%. If this price taken into account, the lot sold by Bankia costs about €192 million. (…)

With the purchase, AIG obtained a 3% discount. (…) The book value of the shares acquired is estimated at around €100 million. Due to the fact that on the market the holding is worth about €192 million, the buyer can expect capital gains close to €92 million. (…).

Bankia is also a shareholder in such listed companies as Mapfre (2.99%), Realia (27.6%), Deoleo (16.5%), Iberdrola (5.0%) and Metrovacesa (19.07%). (…) Since November 2012, the bank has left 89 firms.

Bankia is in 68% controlled by the Government, with view to privatization (…).

 

Original article: Expansión (G. Martínez/ Y. Blanco)

Translation: AURA REE

35