Caixabank sells Bankia businesses to Global Payments for 277 million euros

This post was originally published on this site

Caixabank agreed to sell a unit that processes payments for retailers to Comercia Global Payments, a local unit of Global Payments, for 260 million euros.

Caixabank owns a 20% stake in Comercia Global Payments.

The bank also sold a pre-paid card business to Global Payments MoneytoPay for 17 million euros. Caixabank holds a 49% stake in that unit.

The sales will generate a 187 million euro profit, the bank said in a statement.

Caixabank became the country’s largest domestic bank in assets in March when it closed its acquisition of smaller rival Bankia.

($1 = 0.8447 euros)