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Spain sells 7.0% stake in Bankia

The Spanish government sold a 7.0% stake in Bankia SA for €818.3 million.

BFA Sociedad Tenedora de Acciones SAU, wholly owned by the government's Fondo de Reestructuración Ordenada Bancaria, sold 201,553,250 shares in Bankia at a price of €4.06 per share through an accelerated bookbuilding process among qualified investors.

The transaction reduces BFA's holding in Bankia to 1,745,745,307 shares, or a 60.63% stake, and has a positive impact of 75 basis points on BFA's fully loaded common equity Tier 1 ratio as of September on a consolidated basis.

BFA entered into a 60-day lockup period from undertaking any transmission of its remaining shares in Bankia following the sale.

Deutsche Bank AG's London branch, Morgan Stanley & Co. International Plc and UBS Ltd. served as placing agents in behalf of BFA.