Criteria raises stake in Hong Kong bank

4th January 2008, Comments 0 comments

Spanish investment holding company Criteria CaixaCorp said yesterday it had raised its interest in Bank of East Asia (BEA) of Hong Kong.

4 January 2008

MADRID - Spanish investment holding company Criteria CaixaCorp said yesterday it had raised its interest in Bank of East Asia (BEA) of Hong Kong to 8.89 percent by subscribing to a 4.76-percent capital increase by BEA.

Criteria, which is controlled by Spain's largest savings bank La Caixa, said it paid EUR 345 million for the additional holding in BEA. It bought an initial 4 percent in September of last year for EUR 265 million. BEA is the fifth largest bank in Hong Kong.

Criteria listed on the Spanish exchanges last year.

[Copyright El Pais / Adrian Soto 2008]

Subject: Spanish news

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