Spain's Caixabank could make sale of its around 10 percent stake in Grupo Financiero Inbursa in response to occurring pressure to get rid of investments and bulk up capital.
Caixabank could reduce its holding by half and get a huge profit if it sold its stake worth $1.6 billion at current market prices.
The Spanish bank paid 10 percent stake for its entire 20 percent holding in the sixth largest bank in Mexico by assets in the year 2008.
Caixabank, which paid around 1.5 billion euros in 2008 for the stake, said in a statement that its relationship with Inbursa, and its main supporters will not be strained by the sale. It also signed with Inbursa, controlled by tycoon Carlos Slim, a 428 million euro sale and leaseback deal on a clutch of properties in late 2012.
Barcelona-based Caixabank wants to boost its finances this year in response to higher provisions on bad loans.
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