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Bankia agrees to sell 50% of Ribera Salud to Centene Corporation

Bankia agreed today to sell its 50% stake in the health management group Ribera Salud to the Centene Corporation from the United States, which specialises in health services
Bankia Comunicación

By  Bankia Comunicación

Publish on 
07 April 2014

    Bankia agreed today to sell its 50% stake in the health management group Ribera Salud to the Centene Corporation from the United States, which specialises in health services.

The operation will not significantly impact Bankia's accounts. The financial institution thus ends its participation in a leading company in health-related administrative concessions in Spain.

The sale was accomplished by means of a competitive process involving interested investors and is among the bank's commitments as set out in the Restructuring Plan for the BFA-Bankia Group, approved by Spanish and European authorities in November 2012.

In that operation Bankia was advised by KPMG in financial matters and the firm of Watson, Farley and Williams in legal matters.

Centene Corporation is a leading company in the American health sector and is quoted on the New York Stock Exchange (NYSE:CNC). It has more than 30 years of experience working with state governments in the USA.

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