Reprinted from Caribbean Net News
caribbeannetnews.com

Spanish bank expects to complete Caribbean acquisition soon

Monday, January 15, 2007

by: Ben Sills

MADRID, Spain (Bloomberg): Banco Sabadell SA, Spain's fourth-biggest bank, may seal the acquisition of a bank in the Caribbean region in the near future, said a spokesman.

Banco Sabadell is in talks with a range of potential targets, said the spokesman, who asked not to be named. Any acquisition would cost less than the 760 million euros ($982 million) the bank paid for Banco Urquijo last year, he said.

Banco Sabadell is aiming to extend its presence in Latin America using the Caribbean region as a base.

Print Page