The British fund Oceanwood Capital Management, founded by former directors of Goldman Sachs, has put 4.4% of Unicaja up for sale in an accelerated placement process that will be accompanied by their departure from the board of directors.
To carry out this operation, it has hired Bank of America and Citigroup, which are in charge of looking for buyers for a block of 117 million shares through a private placement.
After the sale, Oceanwood will resign from his position on the board of directors of the bank, which is the sixth largest in Spain. His representative is David Vaamonde Juanatey, who will present his resignation, as indicated to the CNMV.
It will also reduce its stake to 3%, compared to the 30.2% of Fundación Unicaja, which is the main shareholder, ahead of the old Asturian savings banks, which have 6.5%, and the Domínguez de Gor family, owner of Mayoral, which has 5% through Indumenta Pueri. The Norwegian sovereign wealth fund has another 5.4%.
Oceanwood, which has promised to keep its remaining 3% for at least 90 days so as not to affect the share price, invests mainly in financial institutions. In Spain, it has become a shareholder of Bankintery de NH.
Unicaja has a market value of 2,811 million euros. Its board of directors has just elected Isidro Rubiales, a director of the house, as the new CEO to replace Manuel Menéndez, in a move that will resolve the governance crisis after its merger two years ago with Liberbank.
