Caixabank Values Bankia At 4.3 Billion Euros In All-share Deal

Under the terms of the deal, Caixabank will offer 0.6845 shares of its own for every share in Bankia.

The merger is expected to kick off another round of consolidation for Europe’s banks which are struggling to cope with record low interest rates and the economic downturn sparked by the COVID-19 pandemic. More deals are expected to follow in Spain.

($1 = 0.8441 euros)

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