This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
CaixaBank estimates that the repurchase of 51% of Servihabitat will have a negative impact of some 200 million euros on the income statement for 2018.
CaixaBank says goodbye to the week with a new corporate operation under its belt. The company has reached an agreement with the company SH Findel, controlled by the US fund TPG, to buy 51% of the share capital of Servihabitat for 176 million euros, which will allow it to regain full control of the real estate firm.
CaixaBank estimates that the repurchase of 51% of Servihabitat will have a negative impact of some 200 million euros on the results account for 2018. In the coming years, however, it expects it to generate a positive impact of approximately 45 million euros per year, As reported by the bank to the National Securities Market Commission (CNMV).
In October 2013, CaixaBank formalized the sale of 51% of Servihabitat to the TPG group, an operation that generated a gross capital gain of about 255 million.
This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
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