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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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.17014 | -2.56% | 6.47 | 6.45 | 6.49 | 6.48 | 6.45 | 6.48 | 18,688 | 15:34:48 |
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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