Gortázar will main­tain his po­si­tion

The New CaixaBank Already Legal; It Revalues The State’s Stake In Bankia By €1.6 Bn

Gonzalo Gortázar.
Gonzalo Gortázar, CaixaBank.

Friday, March 26, was the last day of tra­ding for Bankia, and the first for the board of di­rec­tors of the new CaixaBank. The legal merger bet­ween the two en­ti­ties is now a fact th­rough a share swap that will give birth to the country’s lea­ding bank by vo­lume of as­sets.

Therefore, on Monday 29 March, the newly issued shares of Bankia will be integrated into the CaixaBank stock in the Ibex 35 and Ibex 35 Banks index, almost a decade after its stock market debut in July 2011 through a controversial process that led it to one of the most important trials in Spain’s economic history.

As agreed in the merger plan, the entity resulting from the merger will be chaired by José Ignacio Goirigolzarri, the current chairman of Bankia, while the current CEO of Caixabank, Gonzalo Gortázar, will maintain his position on the board of the new CaixaBank.

At the press conference held to mark the registration of the new bank in the Business Registry, Goirigolzarri stated that the state’s stake in Bankia through the Fund for Orderly Bank Restructuring (FROB) has increased by around €1.6 billion since the merger with CaixaBank was announced last September.

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