NOTE! This site uses cookies

By continuing to browse the site you are agreeing to our use of cookies. For more detalis, see Read more

Accept

What are you looking for?


CatalunyaCaixa earns 448 million euros from the sale of its stake in Repsol

The Catalan savings bank owed the 1.63% of the oil company Repsol. By selling all its stakes, it earned 448 million, which represents a profit of 186 million euros. The financial entity made this operation to increase its core capital, in order to be ready for the banking stress test.

SHARE

20 January 2011 06:08 PM

by

ACN / Josep Molina

Barcelona (ACN).- CatalunyaCaixa earned 448 million euros this week when it sold all its stakes in Repsol, which correspond to 1.63% of the oil company\u2019s. According to a statement from the saving bank, CatalunyaCaixa made a profit of 186 million euros with this operation. Although this sell was foreseen in the business plan, the positive trend noted in the oil company\u2019s value made the savings bank going beyond the initial expectations. The sale allows the savings bank\u2019s liquidity to increase by 448 million, while strengthening its capital with an increase of 32 basic points in its \u2018core capital\u2019. According to the statement released by the savings bank, CatalunyaCaixa hails the operation as 'excellent'. Just last week the bank gained a dividend of 0.525 euros per share. CatalunyaCaixa made the most of the fact that the value of oil shares were at the highest in two and a half years


SHARE

  • CatalunyaCaixa earns 448 million euros from the sale of its stake it had in Repsol (by J. Molina)

  • CatalunyaCaixa earns 448 million euros from the sale of its stake it had in Repsol (by J. Molina)