HSBC divests its 7.89% stake in Prisa for 52 million.

HSBC Continental Europe has sold its 7.89% stake in Prisa for approximately 52 million euros, at a price of 0.93 euros per share, the British bank informed the Spanish Securities and Exchange Commission (CNMV) on Friday.

HSBC Continental Europe has completed, on behalf of its parent company HSBC Bank, the private placement of 55.89 million shares through an accelerated placement, aimed exclusively at qualified investors.

Following the completion of the placement, HSBC Bank does not hold any shares in Prisa, whose shares closed yesterday on the Continuous Market up 0.86% to 0.938 euros. The transaction is expected to be settled on 26 January.

HSBC Bank has entered into a placement agreement with its subsidiary under which the UK entity is subject to a 90-day lock-up.

The Group’s main shareholder is the British fund Amber Capital, with 29.84%.

Source: Expansión.