Bankia Gains 192 Million Euros by Selling 12.6% of NH Hoteles

17/01/2014 – Cinco Dias

Bankia and its parent institution, Banco Financiero y de Ahorros (BFA), have earned net capital gains equal to €63.7 million with sale of 12.6% of NH Hoteles for €191.84 million, as the CNMV informed. (…).

In total, Bankia and BFA said good-bye to 38.83 million assets of NH Hoteles, selling for 4.94 Euros per share (…). In fact, Bankia held 8.07%, while BFA 4.53% (…).

Bankia preps for more divestments. Bank has already sold 12% of Mapfre, 20.14% of Indra, 12.09% of IAG, its securities company Bankia Bolsa and Finanmadrid, earning in 2013 about €430 million in net capital gains and revenues of €2.239 million.

In May, Bankia sold its U.S. branch City National Bank of Florida for about €180 million.

Moreover, Bankia holds shares of Mapfre (2.9%), Iberdrola (5%), Deoleo (16.5%), Metrovacesa (19%) and Realia (27,6%).

Before, Bankia-BFA held up to 15% of NH Hoteles, but they sold a small share to Chinese group HNA (…).


Original article: Cinco Dias (L. Salces)

Translation: AURA REE