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Unicaja Banco buys FROB's stake in Banco CEISS

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Unicaja Banco buys FROB's stake in Banco CEISS

Unicaja Banco SA acquired all of the shares temporarily held by Spain's Fund for Orderly Bank Restructuring in Banco de Caja España de Inversiones, Salamanca y Soria SA for €36.7 million.

Specifically, Unicaja Banco bought 127,480,982 shares in Banco CEISS, representing a 12.5% stake in the bank now also known as EspañaDuero. Unicaja Banco proposed in late October to absorb its majority-owned unit through the exchange of 1 Unicaja Banco share for every 5 shares in EspañaDuero.