The Spanish Government is pushing ahead with the process to nationalize Sareb. In the latest development, it has made an offer through the Fund for Bank Restructuring (Frob), which already owns 45.9% of Sareb, to the other shareholders to acquire 100% of the company.
According to La Vanguardia, the Frob is offering to pay 1 cent for each of the 39,710 shares, which would value Sareb at around 360 euros. The largest shareholders of the company that manages the assets proceeding from the restructured banks are Banco Santander (22.2%), CaixaBank (12.2%), Sabadell (6.6%) and Kutxabank (2.5%). Other shareholders include Ibercaja (1.43%), Bankinter (1.37%), Unicaja Banco (1.27%), Cajamar (1.21%), Mapfre (1.11%) and another 17 companies – including financial entities and several insurers-, with stakes of less than 1%.
Read the full article in Spanish.