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Agreement signed on integration of Ibercaja and Caja3 Banking Groups

Integration of Ibercaja and Caja3 Banking GroupsThe integration is done through a process of exchange of shares and subsequent merger of Bank Caja3 by Ibercaja Bank Group · Ibercaja have 87.5% of the shares of Ibercaja Bank and Bank shareholders boxes Caja3 Group, 12, 5%.

Ibercaja banking group and Caja3 bank have signed the contract for the integration of the two entities, which will take place through a process of exchange of shares and subsequent merger of Bank Caja3 by Ibercaja Bank Group. Ibercaja Bank’s contribution of 100% of Bank capital Caja3 Group will entitle its shareholders (Caja de Ahorros de la Inmaculada, Caja de Ahorros y Monte de Piedad Catholic Circle and Monte de Piedad Burgos and Caja General de Ahorros de Badajoz) to a combined share of 12,5% in the share capital of Bank Ibercaja. Ibercaja, meanwhile, will have 87.5%. The head office will be in Zaragoza.

This agreement is a key step in the integration process started in November 29 last year. In recent months, Caja3 Banking Group has applied the restructuring plan approved by the EU and national authorities and obtained the necessary capital support in the form of convertible debt instruments.

Terms: banks, Caja3, Ibercaja
Category: News