27-Jun-2013 3:17 PM

Bankia puts its 12.09% stake in IAG up for sale

Spain's Bankia stated (26-Jun-2013) it its 12.09% stake in International Airlines Group (IAG) up for sale, as intended as part of its 2012-2015 Strategic Plan which calls for the divestiture of "non-strategic assets". Bankia mandated Bank of America Merrill Lynch and Bankia Bolsa to handle the sale. As previously reported by CAPA, IAG chairman Antonio Velazquez previously said the Group was comfortable with Bankia's participation and would also be comfortable if the firm decided to divest its stake. [more - original PR - Spanish]