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Merger agreement Bankia - BMN

Category: Merger Bankia - BMN

Bankia approves merger agreement with BMN

The Board of Directors of Bankia has decided to enter into a business integration agreement with BMN, under which Bankia will carry out a merger by absorption of BMN.

The transaction will be implemented through delivery of 205.6 million newly issued shares of Bankia to the shareholders of BMN. This entails valuing BMN at 825 million euros (0.41 times its book value).

The shareholders of BMN will hold 6.7% of Bankia's capital after the merger has been completed. They will then be the owners of liquid shares which are listed on the stock market and which pay a dividend that has been growing ever since the first dividend was paid in July 2015, out of profit for 2014.

The merger reinforces Bankia's position as the fourth largest bank in the Spanish market and comes at a time when the outlook for the financial system is improving, both in terms of expected business growth and as regards the foreseeable trend in interest rates.

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Key figures of merger agreement Bankia - BMN

  • Bankia embarks on a growth phase
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  • Bankia enhances its leadership position in Spain
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  • The number of Bankia customers will grow (26%) and branches (36%)
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  • Terms of Fusion
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  • Shareholding Structure
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  • Next steps
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  • Board of directors
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  • Impacts of the fusion with BMN
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  • Conclusions
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Multimedia

  • José Ignacio Goirigolzarri, Executive Chairman of Bankia and José Sevilla, Bankia's CEO
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  • José Sevilla, Bankia's CEO
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia, and José Sevilla, Bankia's CEO
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia, José Sevilla, Bankia's CEO, and Amalia Blanco, general director of communication and external relations of Bankia
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  • José Sevilla, Bankia's CEO
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia, and José Sevilla, Bankia's CEO
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  • José Ignacio Goirigolzarri, Executive Chairman of Bankia
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