Spanish bank Banco de Sabadell said on Monday, March 30, it agreed to sell its depositary unit to France’s BNP Paribas for 115 million euros ($127.40 million).
The Sabadell unit had assets worth 22 billion euros in custody, reported Reuters.
The sale, which is expected to be closed during the second quarter of 2021, will bring Sabadell a net capital gain worth 75 million euros.
Full Content: Reuters
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