Liberbank Sells Enagas Stake for EUR182.64 Million
04 Oktober 2012 - 11:05AM
Dow Jones News
By Jonathan House
MADRID--Spanish bank Liberbank S.A. has sold its 5% stake in
Spanish gas grid operator Enagas S.A. (ENG.MC) to institutional
investors for EUR182.64 million, the bank arranging the transaction
said in a filing to Spain's stock market regulator Thursday.
The Enagas shares were sold at EUR15.3 a share, Barclays Bank
PLC said, a price that represents a 4.5% discount to their
Wednesday closing level.
As they struggle with the bust of a decadelong housing boom,
Spanish banks are under pressure to raise capital. Liberbank was
one of seven institutions to fail a recent stress test conducted by
U.S. consultancy Oliver Wyman. The test indicated that Liberbank
needs to raise EUR2.108 in new capital.
In September, another three savings banks--Caja Murcia, Caja
Granada and Caja Castilla-La Mancha--sold their combined 5% stake
in Enagas.
Write to Jonathan House at jonathan.house@dowjones.com
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