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Oceanwood says goodbye to its participation in Unicaja and leaves the bank’s board

Date: April 15, 2024 Time: 19:45:40

Oceanwood is removed from the capital of Unicaja Banco the day after the appointment of a new CEO. The fund, a historical shareholder of Liberbank, announced on Tuesday afternoon the accelerated placement of just over 4% of the capital, but has finally chosen to sell practically all of its participation, placing just over 7%, which It leads him to reduce his participation to something merely residual: 0.34%. With this movement, he will also leave the bank’s board of directors.

The fund, which has obtained 187.5 million euros from the sale, has sold them at one euro per share in an accelerated placement that it made public at the close of the stock market on Tuesday. The sale has taken place below the market price, since Unicaja had closed the day at 1,061 euros. The bank was trading at its highest prices since March, with an annual return of slightly less than 3% before the sale of the stake.

The departure of Oceanwood puts an end to a long history of the fund as a shareholder in the capital, first of Liberbank and later of Unicaja Banca and coincides with the departure of Manuel Menéndez as CEO. On Monday, the bank had appointed Isidro Rubiales to replace him, an executive with a long history in the Malaga leg of the financial institution and close to the group’s president, Manuel Azuaga. Oceanwood was a historical shareholder of Liberbank, since it landed in the capital of the entity in 2014 and increased its participation in the capital in subsequent years.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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