latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/caixabank-to-sell-part-of-stake-in-comercia-global-payments-59692794 content esgSubNav
In This List

CaixaBank to sell part of stake in Comercia Global Payments

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

Blog

Banking Essentials Newsletter: October Edition


CaixaBank to sell part of stake in Comercia Global Payments

CaixaBank SA said it has agreed to sell a 29% stake it holds through a unit in Comercia Global Payments to Global Payments Inc. for €493 million.

In total, the Spanish bank holds a 49% stake in the company through its subsidiary CaixaBank Payments & Consumer E.F.C. E.P. S.A.U. Comercia Global Payments is a joint venture between CaixaBank Payments & Consumer and Global Payments.

The deal values the joint venture at €1.70 billion.

The sale is expected to generate a post-tax capital gain of €410 million, equivalent to 19 basis points of common equity Tier 1 ratio capital.

CaixaBank said its commercial agreement with Comercia Global Payments will be extended to 2040.

The stake sale is expected to be completed in the second half.