MADRID, 22 (EUROPA PRESS)
The Fund for Orderly Bank Restructuring (FROB) expected this week will determine the distribution of compensation for the Bankia IPO in 2011 between the subsidiary and its parent BFA, according to Europa Press sources aware of the negotiations.
According to the latest estimates, the State, through the holding BFA, and Bankia assume a maximum estimated cost of 600 million euros to compensate investors who purchased shares of the bank at the public offering of July 2011.
Of this, BFA, which controls currently 62.5% of Bankia, would face a 372 million. The remaining 37.5% –alrededor euros– 228 million will be paid by Bankia, an amount that implies an indirect contribution of the State to be the majority shareholder of the entity.
Not expected The top figure is established much different from the estimated face potential litigation, which can multiply after the report of the experts of the Bank of Spain submitted to the National Court judge Fernando Andreu accounting irregularities detected in the IPO of entity.
However, the counter-report of Professor Leandro Cañibano, commissioned by the own Bankia, disassembles anterioes and does not detect irregularities in the IPO.
85 convictions
The Economy Minister Luis de Guindos, has already ensured that the BFA-Bankia group “will face all judgments and judgments that may occur in favor of minority shareholders.”
So far, the courts have already issued 120 decisions related to the IPO of Bankia, of which 35 have been favorable to the entity by 800,000 euros, while the remaining 85 have reason to shareholders with a impact of nearly three million euros.
De Guindos has stressed that it is not so important amount of compensation as “who will take the first compensation” as “always involves greater risk and take the first exposure the following losses “.
WAITING FOR THE YEAR RESULTS
From now on, the entity must determine potential contingencies arising from OPS face to present their results 2014. The bank’s president, Jose Ignacio Goirigolzarri, as announced in December that the group had “sufficient financial muscle” to deal with these claims.
It was expected that BFA-Bankia submit your results year closing last February 2nd. However, the bank was forced to postpone submission pending the decision on who will assume FROB compensation to shareholders by the contingencies arising from its IPO in 2011. The deadline to present the accounts is . February 28
No comments:
Post a Comment