Caixabank, Bankia close to agreeing on Valencia as joint HQ, but premium, other issues still discussed
- The negotiations between controlling shareholders in the two lenders are at very advanced stage on picking Valencia as the HQ though the agreeement has not been closed yet.
- Details about what premium Caixabank would pay to buy out Bankia were also being discussed.
MADRID: The controlling shareholders in state-owned Bankia and Caixabank are at an advanced stage of agreeing on Valencia as the legal headquarter of their planned merged entity but other key issues are still being discussed, two sources with knowledge of the deal said on Monday.
"The negotiations between controlling shareholders in the two lenders are at very advanced stage on picking Valencia as the HQ though the agreeement has not been closed yet," one of the sources said.
Details about what premium Caixabank would pay to buy out Bankia were also being discussed.
The deal would give both lenders a combined market capitalization of 16.4 billion euros, according to current market valuations.
Bankia, Caixabank and the Economy Ministry declined to comment.
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