Gala Capital buys 30% stake in Beka Finance

Spanish securities broker GVC Gaesco sold a majority stake in its services subsidiary Beka Finance, according to unquote" sister publication Mergermarket.

Financial details surrounding the transaction have not been disclosed, though Gala is understood to have taken a 30% stake in the business as part of a capital increase deal. Additionally, a group of high-net-worth individuals has acquired a 25% stake.

Following the deal, GVC Gaesco will reduce its holding from 58% to 45%. GVC acquired its stake in the business for a reported €37m from Spanish lender Bankia in 2013.

Company
Beka Finance, formerly known as Bankia Bolsa, offers investment banking services across Spain, focusing on equities, fixed income and corporate finance. The business in based in Madrid and started trading in the early 1990s.

According to Spanish publication El Confidencial, the business posted a €5.56m loss in 2016.

People
Gala Capital – Luis Chicharro (senior partner).

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• Topics
• Expansion
• Financials
• Southern Europe
• Spain