Post- CAM recap for Sabadell
Spain’s Banco de Sabadell on Monday moved ahead with its previously-announced plan to raise up to €1bn from shareholders to top up its capital following its acquisition in December of troubled Caja Ahorros Mediterraneo (CAM).
It called an EGM for February 23 to approve the issuance of up to 691.81m shares in a rights issue. The terms and timeframe have yet to be announced.
Deutsche Bank and Nomura advised Sabadell on the acquisition of CAM, which it bought from Spains Fund for Orderly Banking
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