Post by account_disabled on Mar 15, 2024 23:20:20 GMT -6
Sector is talking about and that started with the conversations between CaixaBank and Bankia could be the support that the eight securities listed on the Spanish stock market need to start taking off. Or, at least, those most likely to participate in the merger dance, see Banco Sabadell, BBVA, Unicaja or Liberbank, which appear in all the pools as the next ones to take a step forward. On Monday, September , the fundamental discrepancy seems to have been resolved and the boards of directors of the two banks will be convened tomorrow, Wednesday, September , to approve the operation. It will be then that the FROB, Bankia's first shareholder with %, will begin the assessment of the merger agreement with CaixaBank, including the exchange ratio, when it receives the documentation that the entities will send it after their respective boards of directors. The same happens with the La Caixa Foundation, owner.
CaixaBank's capital, although in this case its meeting is not mandatory, since Criteria, the holding company in which the bank's participation is included, has five directors in the bank, unlike the State, which lacks representatives on Bankia's board of directors. In the new resulting entity, which will maintain the name and brand CaixaBank, the La Caixa foundation will control % of the capital, according AOL Email List to several sources, since below that percentage CaixaBank is not clear that it could continue to be the head of the tax group. which includes the La Caixa foundation and Criteria, in accordance with the corporate tax law and that of banking foundations. That would complicate the tax strategy of the group, with multiple investees. In principle, taking into account CriteriaCaixa's participation in CaixaBank, the latter entity would have to have at least % of the new group and Bankia, %, since then the current % of La Caixa would be % of the merger.
The would add a percentage slightly higher than %. A relevant issue in the merger is the number of workers who will have to leave the entity. The figures that have been revealed throughout the negotiations, the creation of the new CaixaBank will lead to the departure of some , or , employees, in about three years. According to data from the unions between the two entities, there are , workers over years of age, of which , work at Bankia, and , correspond to CaixaBank. Last year, this entity carried out an adjustment of offices and staff. The requests to benefit from the voluntary departure and early retirement plan exceeded the number anticipated by CaixaBank. What does the Stock Market say about the exchange equation between Caixabank and Bankia? The most notable difficulty is in the exchange equation, that is, in determining the value of one bank in relation to the other with which the merger will be carried out.
CaixaBank's capital, although in this case its meeting is not mandatory, since Criteria, the holding company in which the bank's participation is included, has five directors in the bank, unlike the State, which lacks representatives on Bankia's board of directors. In the new resulting entity, which will maintain the name and brand CaixaBank, the La Caixa foundation will control % of the capital, according AOL Email List to several sources, since below that percentage CaixaBank is not clear that it could continue to be the head of the tax group. which includes the La Caixa foundation and Criteria, in accordance with the corporate tax law and that of banking foundations. That would complicate the tax strategy of the group, with multiple investees. In principle, taking into account CriteriaCaixa's participation in CaixaBank, the latter entity would have to have at least % of the new group and Bankia, %, since then the current % of La Caixa would be % of the merger.
The would add a percentage slightly higher than %. A relevant issue in the merger is the number of workers who will have to leave the entity. The figures that have been revealed throughout the negotiations, the creation of the new CaixaBank will lead to the departure of some , or , employees, in about three years. According to data from the unions between the two entities, there are , workers over years of age, of which , work at Bankia, and , correspond to CaixaBank. Last year, this entity carried out an adjustment of offices and staff. The requests to benefit from the voluntary departure and early retirement plan exceeded the number anticipated by CaixaBank. What does the Stock Market say about the exchange equation between Caixabank and Bankia? The most notable difficulty is in the exchange equation, that is, in determining the value of one bank in relation to the other with which the merger will be carried out.