Bankia €825 million acquisition of Banco Mare Nostrum

Overview:

• Bankia has acquired Banco Mare Nostrum (BMN) for €825 million.
• Bankia is Spain’s fourth-largest bank by market capitalisation.
• Bankia will fund the deal by issuing 205.6 million new shares equal to 6.7% of its post-merger capital to the shareholders of the target.
• The combined entity holds assets valued at €230 billion.
• The Spanish state owns 66% of Bankia and 65% of BMN  and is looking to privatise both before 2019.

Katrin Kostadinova - Data analyst