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Portugal: Spanish court to investigate CaixaBank takeover of BPI
3:58 CAT | 04 Oct 2018
The Spanish court that handles the more complex cases has decided to investigate a complaint against CaixaBank and one of its former chairmen for alleged abuse of market position and administrative crimes regarding the acquisition of Portuguese bank BPI.
Apart from Isidro Fainé, chairman at the time when CaixaBank acquired a majority position in BPI, the case also involves the current CEO, Gonzalo Gortázar, the former director of international relations, Antonio Massanell, two board consultants, Alejandro García Bragado and Oscar Calderón, and the director in charge of compliance, Juan Antonio Álvarez García, news agency EFE reported on Thursday.
CaixaBank, which had owned a minority stake in BPI since 1995, successfully launched a takeover bid for the Portuguese bank in 2017 and took control of 84.5% of its capital with an investment of €644.5 million.
Source: Lusa
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