January 24, 2020 / 8:13 AM / 25 days ago

BRIEF-Ibercaja Banco To Sell 4.45% Stake In Caser To Helvetia For About 51 Mln Euros

Jan 24 (Reuters) - Ibercaja Banco SA:

* SAYS TO SELL 4.45% STAKE IN CASER TO HELVETIA FOR ABOUT 51 MILLION EUROS

* POSITIVE IMPACT OF THIS SALE ON IBERCAJA'S FULLY-LOADED COMMON EQUITY TIER 1 (CET1) RATIO ESTIMATED AT ABOUT 22 BASIS POINTS

* SAYS AFTER FORMALIZATION OF SALE IBERCAJA WILL KEEP A SHAREHOLDING IN CASER OF 9.5%

* IT WILL FORMALIZE NOVATION AGREEMENT MODIFYING ITS DISTRIBUTION CONTRACT FOR NON-LIFE INSURANCE WITH CASER

* NOVATION WITH CASER WILL MEAN FOR IBERCAJA THE COLLECTION OF FIXED COMMISSION OF 70 MILLION EUROS PLUS ADDITIONAL PAYMENTS OF UP TO 50 MILLION EUROS IN THE NEXT 10 YEARS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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