La Caixa unveils audacious plan to restructure

first_imgThursday 27 January 2011 9:10 pm KCS-content Show Comments ▼ Share SPANISH savings bank La Caixa will boost its capital and become a listed bank, under audacious new restructuring plans.It will transfer its banking business to listed unit Criteria CaixaCorp, which will in turn transfer some of its industrial stakes in companies to a new entity.The new banking business will be called CaixaBank, which will include current holdings in companies Telefonica, and Repsol and be valued at around €20.6bn (£17.75bn).La Caixa will be the controlling shareholder in CaixaBank, with around 81.1 per cent of its capital. CaixaBank will strengthen its capital position through the launch of convertible bonds for up to €1.5bn. whatsapp whatsapp La Caixa unveils audacious plan to restructure Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more