CaixaBank Signals Exit From $1.92 Billion Erste Bank Stake

Spanish lender may sell part or all of 9.9% Erste holding
Deal would cut Erste shareholder syndicate’s stake to 20%

Signage above the entrance to a Caixabank SA bank branch in Barcelona.Photographer: Angel Garcia/Bloomberg

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By Marton Eder and Rodrigo Orihuela

October 21, 2021 at 5:23 PM UTC

Updated on

October 22, 2021 at 7:22 AM UTC

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CaixaBank SA is considering the sale of part or all of its stake in Vienna-based Erste Group Bank AG, ending its foray into eastern European banking following its acquisition of Spanish rival Bankia SA.

Caixa said it may sell a 5.4% stake held directly in Erste, and also assess whether to settle swaps underlying another 4.5% of shares, according to a statement Thursday. A deal will depend on market conditions and the direct stake may be offered to pre-identified buyers, it said.