CaixaBank, BancaCivica In $1B Deal To Form Banking Giant

Law360, New York (March 27, 2012, 6:09 PM EDT) -- Spain's CaixaBank plans to merge with Banca Civica in a €977 million ($1.3 billion) deal that will sire the country's biggest bank, CaixaBank announced Tuesday.

The buyout will be financed entirely though a loan from the Fund for Orderly Bank Restructuring, which CaixaBank said it plans to recoup within 12 months of the merger's completion.

The deal, approved by the boards of directors at CaixaBank and the four savings banks that are Banca Civica shareholders, is expected to be put before regulators and finalized during the third...
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