MADRID, Dec 3 (Reuters) - Spanish lender Caixabank said on Thursday it was selling stakes in Bank of East Asia and Mexico’s Inbursa to its holding company Criteria, allowing it to free up capital.
Criteria will pay for most of the 2.65 billion euro ($2.90 billion) deal in Caixabank shares - equivalent to 9.9 percent of Caixabank’s capital, or 2 billion euros - and will at the same time reduce its holding in Caixabank to 52 percent from 56.8 percent. Another 642 million euros will be paid in cash.
Caixabank is selling its entire 9.01 percent stake in Inbursa to Criteria, as well as its 17.24 percent holding in Bank of East Asia. ($1 = 0.9137 euros) (Reporting by Sarah White and Jesus Aguado, Editing by Sonya Dowsett)