The FROB Makes A Formal Offer For 100% Of Spain’s Bad Bank
The Fund for Orderly Bank Restructuring (FROB) made an offer to the rest of the entities that have shares in the Asset Management Company from Bank Restructuring (Sareb) to take 100% of the company for a symbolic price close to €200, according to Europa Press. Sareb’s shareholder banks must decide whether to sell their stake in the FROB, which they have already fully provisioned.