Spain's Caixabank sells two businesses for EUR 277 mln

Friday 9 July 2021 14:42 CET | News

Spain-based bank Caixabank has agreed to sell two businesses from its recently acquired rival Bankia to Global Payments (GPN.N) units for a combined amount of EUR 277 million.

Caixabank agreed to sell a unit that processes payments for retailers to Comercia Global Payments, a local unit of Global Payments, for EUR 260 million. Caixabank owns a 20% stake in Comercia Global Payments.

The bank also sold a pre-paid card business to Global Payments MoneytoPay for EUR 17 million. Caixabank holds a 49% stake in that unit. The sales will generate a EUR 187 million profit, the bank said in a statement.

Caixabank became the country's largest domestic bank in assets in March 2021 when it closed its acquisition of smaller rival Bankia.

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Keywords: acquisition, banks, Global Payments
Categories: Banking & Fintech
Countries: Spain
This article is part of category

Banking & Fintech