CaixaBank : Merger - Bankia: creation of a leader capable of weathering the crisis
>CaixaBank seizes what is probably the best M&A option in Spain - After two weeks of talks, the two banks’ boards of directors finally managed to clinch a merger agreement. The deal creates a leader on the Spanish banking market with ~€ 664bn in assets and a market share of ~25% in lending/deposits and ~30% in long-term savings, and unquestionably puts pressure on the other domestic players (notably BBVA and Sabadell), which are left trailing behind and are undermined...Caixabank is an investment company based in Spain. Co. is involved in investment portfolio management activities across two areas: Services and Financial Business and Insurance. In the services area, Co. provides investment solutions for companies involved in the infrastructure, energy, services and entertainment sectors. In the financial business and insurance area, Co. is engaged in the investments for international banks, insurance and specialist financial services. Co. focuses most of its banking investments in India, China, the U.S., and Central and Eastern Europe with a particular interest in retail banking. Co. is also involved in the disinvestments activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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