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Report: Liberbank submits bid for Caixa Geral's Spanish unit

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Report: Liberbank submits bid for Caixa Geral's Spanish unit

Liberbank SA presented a preliminary offer to acquire Banco Caixa Geral SA, the Spanish unit of Portugal-based Caixa Geral de Depósitos SA, financial sources told Spanish news agency Efe.

Kutxabank SA, Abanca Corporación Bancaria SA and Unicaja Banco SA had all received information on Banco Caixa Geral's numbers but decided not to submit bids by the March 19 deadline, leaving Liberbank as the sole Spanish lender to bid for the CGD unit, according to the same-day report.

Millennium BCP and U.S.-based Lone Star Funds, which owns a controlling stake in Novo Banco SA, are also interested in Banco Caixa Geral, Efe said.