Spain: Unicaja and Liberbank aiming to finalize merger by October

The representatives of Unicaja and Liberbank have set a common timetable to effectively complete the integration of the two institutions, which they hope will be able to close, pending the approval by the relevant authorities, between October and November.

In addition to this, the banking merger still requires completing due diligence investigations, carried out by the PwC and Deloitte companies. With due diligence completed, the two entities will present a first merger project in the first half of April.

The merged entity will be the sixth largest in the banking sector in Spain. It is estimated that the savings in capital would reach a maximum of 700-800 million euros, according to industry sources.
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