CaixaBank buys Banco de Valencia for a euro
Wednesday, November 28, 2012 @ 2:02 PM
BANCO de Valencia has been bought out by Caixabank for just one euro, according to the FROB. The Ordered Banking Restructure Fund has recently given the ailing Banco de Valencia a cash injection of 4,500 million euros, and its nationalisation means it will be one of four financial entities to get a slice of the 37,000-million-euro bailout from the EU.
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