- The limit for privatization is set in December 2021
The Council of Ministers has approved an additional two years to extend the divestment period in Bankia. With the agreement adopted, the deadline for the privatization of the entity is extended until December 2021.
The purpose of this extension is to favor the most efficient use of public resources by maximizing the recovery of aid.
The extension of the term will allow the Banking Ordinance Restructuring Fund (FROB) to execute its divestment strategy with more flexibility to find the favorable conditions in the capital markets. The FROB currently holds a 61.4% stake in the capital stock of Bankia, S.A.
This is the second extension of the initial term of sale that is made. The first was approved in December 2016, through Royal Decree-Law 4/2016, of December 2, on urgent measures in financial matters, which extended the disinvestment period from five to seven years. Likewise, the possibility of new extensions was established prior agreement of the Council of Ministers.
