CaixaBank agrees to sell 10.1% of Grupo Financiero Inbursa

• The operation is structured via two transactions: the sale of 3.7% of GF Inbursa capital to the Slim family and the placement of 6.4% of shares among institutional investors and minority investors in Mexico and on the international market.
• Following the placement, which is scheduled for completion over the next few weeks, CaixaBank will hold a minimum of 9% of GF Inbursa.
• CaixaBank reiterates its commitment to the company's project and its main shareholders.

CaixaBank has agreed to sell 10.1% of Grupo Financiero Inbursa (GF Inbursa) via two independent transactions.

On the one hand, CaixaBank has completed the sale of 3.7% (250 million shares) of GF Inbursa to Inmobiliaria Carso of the Slim family for 387 million euro (26 pesos per share). The sale sees CaixaBank raise consolidated capital gains after taxes of 33 million euro.

On the other hand, CaixaBank is going to submit to Mexico's National Banking and Securities Commission a placement proposal for the remaining 6.4% of shares held in GF Inbursa, structured as follows:

- The placement of approximately 4.5% of outstanding shares in GF Inbursa (296 million shares) via a tranche for the Mexican market, based on a secondary stock offering on the Mexican Stock Exchange, and another tranche for the international market via a private placement with an over-allotment option for underwriters. 

- A commitment from Inversora Bursátil, a subsidiary of GF Inbursa, to irrevocably place 30% of all shares sold in the placement (i.e. a maximum of 1.9% of GF Inbursa capital) at the offer price and subject to settlement.

Following the offering, which is scheduled for completion over the next few weeks, CaixaBank will hold between 9% and 9.9% of outstanding shares in GF Inbursa, depending on the exercise of the over-allocation option by underwriters.

CaixaBank reiterates its commitment to GF Inbursa's project and its main shareholders.