Spanish savings bank, La Caixa, is seeking to transfer its banking business to listed unit Criteria Caixa, The Wall Street Journal reports. The new banking business will be called CaixaBank.
The new entity will give Barcelona-based La Caixa a controlling stake as well as some of its industrial shareholdings, such as GasNatural and Abertis. CaixaBank will also issue €1.5 billion worth of convertible shares to boost its capital base.
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