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USA eyes Caja investment opportunities

Mon 16th May 2011

A number of private equity firms from America are considering investment opportunities in some of Spain's troubled cajas, according to the 'Expansion' newspaper.

The daily revealed how a number of named investors in the United States are starting to seriously consider the opportunities... "Which is an improvement when you consider that in the last two years they didn't want to talk about Spain," a senior director at a U.S. fund was quoted as saying, however he went on to say how "Buying is another matter".

Only last month the Spanish Private Equity Association (ASCRI) said how, unlike in the USA, European private equity firms are usually banned from holding stakes in the financial or property sectors.

None of the private equity firms the newspaper named in it's report would comment on the matter.

It is also beleived that a number of Spanish and other foreign banks are considering making an offer for a stake in Banco de Valencia, a bank which Bancaja - part of the Caja Madrid-led group Bankia - controls through a 38.3% share.

Bankia have denied that the bank is up for sale.

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