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ENGGY Enagas SA (PK)

7.49
0.00 (0.00%)
27 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Enagas SA (PK) USOTC:ENGGY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 7.49 7.41 7.44 0.00 13:22:47

Liberbank Sells Enagas Stake for EUR182.64 Million

04/10/2012 10:05am

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By Jonathan House

MADRID--Spanish bank Liberbank S.A. has sold its 5% stake in Spanish gas grid operator Enagas S.A. (ENG.MC) to institutional investors for EUR182.64 million, the bank arranging the transaction said in a filing to Spain's stock market regulator Thursday.

The Enagas shares were sold at EUR15.3 a share, Barclays Bank PLC said, a price that represents a 4.5% discount to their Wednesday closing level.

As they struggle with the bust of a decadelong housing boom, Spanish banks are under pressure to raise capital. Liberbank was one of seven institutions to fail a recent stress test conducted by U.S. consultancy Oliver Wyman. The test indicated that Liberbank needs to raise EUR2.108 in new capital.

In September, another three savings banks--Caja Murcia, Caja Granada and Caja Castilla-La Mancha--sold their combined 5% stake in Enagas.

Write to Jonathan House at jonathan.house@dowjones.com

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