By Olivia Bugault

CaixaBank SA said Friday that it has sold its entire 9.92% stake in Austria's Erste Group Bank AG for 1.5 billion euros ($1.73 billion).

The Spanish bank said the disposal will have a positive gross profit and loss impact of EUR54 million, while its common equity Tier 1 ratio--a measure of capital strength--will increase by 16 basis points.

The company said a 5.42% stake was sold at EUR38 a share via a share placing, while the other 4.5%, roughly 19.3 million Erste Group shares, was offloaded through the settlement of equity swaps.

CaixaBank said last month that it was considering the sale of its full stake in the Austrian lender.

Write to Olivia Bugault at olivia.bugault@wsj.com

(END) Dow Jones Newswires

November 05, 2021 02:40 ET (06:40 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Caixabank (PK) (USOTC:CAIXY)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Caixabank (PK) Charts.
Caixabank (PK) (USOTC:CAIXY)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Caixabank (PK) Charts.