Tuesday, 8 January 2013

Spain's 'bad bank' is capitalized by 14 institutional investors and public funds

MADRID The Asset Management Society (Sociedad de Gestión de Activos) that has emerged from the Banking Restructuring process and is better known as the 'bad bank', was 100% capitalized by the end of 2012, with 14 investors completing it. The majority shares -55%- are owned by private institutions and the remainder by public -i.e. State- funds. Two foreign banks are taking part -Deutsche and Barclays- and eight Spanish banks:  Ibercaja, Bankinter, Unicaja, Cajamar, Caja Laboral, Banca March, Cecabank and Banco Cooperativo Español, as well as four insurance companies: Mapfre, Mutua Madrileña, Catalana Occidente and Axa. (A more detailed article on this subject will soon be available on SpainInformer.com)

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