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Bankia sells its stake in IAG

Bankia sells its stake in IAGThe Spanish financial group Bankia put up for sale the part (12.09%) of the shares of the aviation holding “International Airlines Group” (IAG), formed by the merger of “Iberia” and “British Airways”. The market value of the package of 224.25 million shares valued at 695.63 million euros.

This decision – the next step of the financial group under the Strategic Plan for 2012-2015, which was presented on November 28 last year. Among other activities, this plan, approved by Brussels, implies a review of capital associated with the so-called “non strategic” assets. These “Bankia” classifies its investments in the “IAG”, “Mapfre”, “Iberdrola”, “NH Hoteles”, “Deoleo”, “Indra” and some others.

Commenting on the news, the president of IAG and head of the Iberia Antonio Vazquez said that with Bankia capital “holding felt comfortable,” without, however, the sale of the shares of the financial group will not change the good relationship between the companies. “How and when to sell his shares – it should be completely solution of Bankia”, – added Mr. Vazquez.

Category: Spain