ABC.es (as translated to English by Google)- March 26, 2010
Banco Sabadell sells 378 offices and other properties for 403 million.
In its statement, noted that the sale will simultaneously couple to formalize a long-term lease and that branch is located in Spain.
The total transaction price is EUR 403 million, reflecting an initial yield of 6.65%, and represents for Banco Sabadell a capital gain of approximately EUR 265 million, before taxes.
Most of the assets, which have a surface ranging from 150 square meters (sqm) and 1,000 meters - are found in Catalonia and Madrid, the rest being distributed among the different autonomous communities.
Drawing on the total areas can be emphasized that 17% of premises are situated in the cities of Madrid and Barcelona.
The funds obtained by this operation, intended to increase their 'capital base,' explained the president of Banco Sabadell, Josep Oliu, before the meeting this week, since its objective is 'to reach a 'core capital 'percentage of equity-highest quality-from 8%, one point more than market demand as a bank Sabadell. At this time the core capital of the bank is 7.6%.
This is the second such transaction that closes Banco Sabadell since last year earned 125 million for various operations.
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