The U.S. bank JPMorgan Chase has raised a 5.004% stake in Liberbank, according to the records of the Comisión Nacional del Mercado de Valores (CNMV).
The notification has taken place in the middle of the merger process with Unicaja, although the move made by the U.S. bank took place on July 15.
On Monday, Unicaja and Liberbank communicated that the Ministry of Economic Affairs and Digital Transformation has given the go-ahead to the merger, this being the last authorization necessary to carry out the operation.
The exchange ratio contemplated in the merger is one Unicaja Banco share for every 2.7705 Liberbank shares, with the exchange being carried out with newly issued shares of the Andalusian entity.
JPMorgan’s 5.004% stake in Liberbank is distributed between 4.000% of voting rights attributed to the shares and 1.004% through financial instruments. The bank holds more than 149.06 million shares, which at the current market price (about 0.28 euros) have a value of 41.73 million euros.
JPMorgan thus becomes one of Liberbank’s main shareholders, behind the Oceanwood fund, the CajAstur Banking Foundation, Mexican investor Ernesto Tinajero and Fernando Masaveu.