- July 9, 2021
- Posted by: Stratford Team
- Category: Business
MADRID, July 9 (Reuters) – Spain’s largest domestic bank Caixabank (CABK.MC) said on Friday it agreed to sell two businesses from its recently acquired rival Bankia to Global Payments (GPN.N) units for a combined amount of 277 million euros ($328 million).
Caixabank agreed to sell a unit that processes payments for retailers to Comercia Global Payments, a local unit of Global Payments, for 260 million euros.
Caixabank owns a 20% stake in Comercia Global Payments.
The bank also sold a pre-paid card business to Global Payments MoneytoPay for 17 million euros. Caixabank holds a 49% stake in that unit.
The sales will generate a 187 million euro profit, the bank said in a statement.
Caixabank became the country’s largest domestic bank in assets in March when it closed its acquisition of smaller rival Bankia.
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