Bankia nears sale of private equity portfolio
Spain's Bankia has filed a request with the National Securities Market Commission to sell its shareholding in around 30 assets and private equity funds, according to the local press.
The transaction is expected to close in early 2014. The sales process began in July 2013 when the group hired N+1 to find a buyer.
The banking group is looking for a buyer in the European mid-market as part of a de-risking process.
The portfolio comprises private equity funds of various sizes and close to 100 equity investments in companies in manufacturing and service industries. Portfolio companies span health, energy, food, infrastructure, engineering, distribution, leisure and tourism, and real estate, alongside investments held by Bankia in venture capital funds and private equity firms.
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