Post by account_disabled on Jan 17, 2024 4:04:29 GMT
Bankia and CaixaBank expect to receive in the coming weeks the report of an independent expert on the merger project agreed between the leadership of both entities to create the largest bank in Spain, an essential step before convening the Shareholders' Meetings that will approve the operation. . According to what sources close to the process have explained to Efe, after the publication of the merger agreement, both entities requested the Commercial Registry of Valencia to appoint an independent expert to issue their report on the integration project.
The independent expert will have a maximum period of one month to give his opinion on the merger and the report he issues will serve so that the Boards of Directors of Bankia and CaixaBank can meet, foreseeably in the second half of October, and call the Boards of Directors. Shareholders one month in advance. In parallel to the work of the expert appointed by the Commercial Registry of Valencia, the Whatsapp Number List State will have its own numbers on the operation, since the FROB, the resolution fund and Bankia's first shareholder, will rely on Nomura to analyze the merger and even You can study alternatives to it. Predictably, the Boards of Directors of Bankia and CaixaBank will be able to meet in the second half of October, and call Shareholders' Meetings one month in advance.
BFA, Bankia's parent company, wholly owned by the State, will also hire its own advisors to study the merger. All of this with the aim of defining their vote at the Shareholders' Meeting in which approval will be requested for the creation of the new CaixaBank, with 16% in the hands of the State. Although it is difficult to find solid arguments for the FROB to vote no to the operation, it would even be difficult for it to justify its refusal to minority shareholders, the fund imposes " a lot of rigor" on itself and relies on advisors to make its decisions. , they argue. Since last Friday, CaixaBank and Bankia could request authorizations so that the merger has the approval of the National Markets and Competition Commission, the National Securities Markets Commission, the Ministry of Economic Affairs, the Bank of Spain and the European Central Bank, as well as the General Directorate of Insurance.
The independent expert will have a maximum period of one month to give his opinion on the merger and the report he issues will serve so that the Boards of Directors of Bankia and CaixaBank can meet, foreseeably in the second half of October, and call the Boards of Directors. Shareholders one month in advance. In parallel to the work of the expert appointed by the Commercial Registry of Valencia, the Whatsapp Number List State will have its own numbers on the operation, since the FROB, the resolution fund and Bankia's first shareholder, will rely on Nomura to analyze the merger and even You can study alternatives to it. Predictably, the Boards of Directors of Bankia and CaixaBank will be able to meet in the second half of October, and call Shareholders' Meetings one month in advance.
BFA, Bankia's parent company, wholly owned by the State, will also hire its own advisors to study the merger. All of this with the aim of defining their vote at the Shareholders' Meeting in which approval will be requested for the creation of the new CaixaBank, with 16% in the hands of the State. Although it is difficult to find solid arguments for the FROB to vote no to the operation, it would even be difficult for it to justify its refusal to minority shareholders, the fund imposes " a lot of rigor" on itself and relies on advisors to make its decisions. , they argue. Since last Friday, CaixaBank and Bankia could request authorizations so that the merger has the approval of the National Markets and Competition Commission, the National Securities Markets Commission, the Ministry of Economic Affairs, the Bank of Spain and the European Central Bank, as well as the General Directorate of Insurance.