Unicaja and Caja España agree merger

The boards of directors of Banco Caja España-Duero and Unicaja Banco have agreed a definitive merger which will make it the seventh ranked financial institution in Spain.

The merger is structured around the Unicaja Bank which will control 70% of the new unit with Braulio Medel at the helm. The merger will require public support of between €800 million and €1,500 million according to the bank.

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