The Banco Sabadell, of Spanish origin, was closed placement among investors of a package of shares of the colombian businessman Jaime Gilinski, representative of the 2,99% of the share capital of the bank, which was sold in two hours.
As reported by the entity to the control body Spanish stock exchange, placement amounted to 202,11 million euros (about $ 214 million), with a unit price of the shares of 1.20 euros.
The Sabadell realized that operation performed by the fund Itos Holding, controlled by that investor in colombia, which until now had approximately five percent of the capital of the bank, as contained in the records of the regulator on the stock market.
The direct and indirect involvement of Itos Holding in Banco Sabadell, will amount to now a total of 114,77 million shares, representative of the 2,04% of the capital.
In this way, Gilinski will no longer be the largest shareholder of Sabadell, while the mexican David Martinez will become the largest shareholder, with about 5% that I already had.
The placing has been conducted by Deutsche Bank, that has acted on behalf of Itos Holding Sàrl.
colombian businessman entered as a shareholder in the Sabadell on September 2013 through the expansion carried out by the Catalan bank to strengthen its capital. Itos Holding company has undertaken not to dispose of its participation in Bank of
Sabadell during the 90 days following the settlement date of the purchase and sale arising out of the placement, without the consent of the bank.
Read: why Gilinski wanted to sell part of its shares in Sabadell?
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