Bankia completes IAG stake sale

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Spanish financial firm Bankia has completed the sale of its 12.1% shareholding in British Airways and Iberia parent company IAG.

It received €675 million ($880 million) from the transaction, a net gain of €167 million.

Bankia had said on 26 June that it intended to divest the shareholding as part of a restructuring plan agreed between the BFA-Bankia group, the European Commission and the Spanish state.