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    CABK   ES0140609019

CAIXABANK, S.A.

(CABK)
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CaixaBank S A : hereby reports that Payments & Consumer (its 100% owned subsidiary) has reached an agreement to sell a 29% stake from its current 49% participation in the share capital of Comercia Global Payments

07/31/2020 | 01:30am EDT

Quality, trust and social commitment

Inside information

CaixaBank S.A. ("CaixaBank") hereby reports that CaixaBank Payments & Consumer S.A. (its 100% owned subsidiary, "CPC"), reached an agreement yesterday with Global Payments Inc. ("Global Payments") to sell a 29% stake from its current 49% participation in the share capital of Comercia Global Payments, Entidad de Pago, S.L. (a joint venture between CPC and Global Payments; the "Company"), for a cash consideration of €493 million (the "Transaction"); which implies a valuation of €1,700 million for 100% of the Company.

As a result of this Transaction, CaixaBank will maintain a presence and degree of significant influence in the Company's merchant acquiring business, while also realising a significant capital gain. The current commercial agreement between the Company and CaixaBank will remain in place and be extended until 2040, in order to facilitate product innovation, accelerate the growth trajectory of the business and better serve the client network.

The Transaction is expected to generate a post-tax c.€410 million capital gain, equivalent to 19 basis points of CET1 ratio capital (adjusted for dividend accrual), with an estimated impact of €-14 million in equity accounted income for 2021E.

The Transaction is expected to close during the 2nd Half of 2020.

31 July 2020

© Caixabank, S.A., 2020

1

Disclaimer

CaixaBank SA published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 05:30:16 UTC


© Publicnow 2020
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Financials
Sales 2021 10 517 M 12 677 M 12 677 M
Net income 2021 5 827 M 7 024 M 7 024 M
Net Debt 2021 - - -
P/E ratio 2021 3,50x
Yield 2021 3,32%
Capitalization 20 899 M 25 140 M 25 192 M
Capi. / Sales 2021 1,99x
Capi. / Sales 2022 1,85x
Nbr of Employees 35 386
Free-Float 44,5%
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Technical analysis trends CAIXABANK, S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 2,92 €
Last Close Price 2,59 €
Spread / Highest target 34,9%
Spread / Average Target 12,6%
Spread / Lowest Target -5,94%
EPS Revisions
Managers and Directors
NameTitle
Gonzalo Gortázar Rotaeche Chief Executive Officer & Executive Director
Javier Pano Riera Chief Financial Officer
José Ignacio Goirigolzarri Tellaeche Executive Chairman
Manuel Galarza Pont Director-Compliance & Control
John Shepard Reed Independent Director
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