Spain's Caixabank to sell Inbursa, Bank of East Asia stakes to parent

December 3, 2015 9:38 PM

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MADRID Dec 3 Spanish lender Caixabank said on Thursday it was selling stakes in Bank of East Asia and Mexico's Inbursa to its holding company Criteria, allowing it to free up capital.

Criteria will pay for most of the 2.65 billion euro ($2.90 billion) deal in Caixabank shares - equivalent to 9.9 percent of Caixabank's capital, or 2 billion euros - and will at the same time reduce its holding in Caixabank to 52 percent from 56.8 percent. Another 642 million euros will be paid in c...

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