Bankia Fondos absorbs 12 BMN funds

Eugenia Jiménez
Bankia Fondos absorbs 12 BMN funds

Spanish Bankia has announced through a statement sent to the Spanish National Securities Market Commission (CNMV) that it will absorb 12 funds – belonging to Banca Mare Nostrum (BMN) until now – through nine of its investment vehicles from Bankia Fondos as part of the merger both companies announced earlier this year.

BMN corporate bonds, BMN corporate FI, BMN flexible FI, BMN European stock exchange, BMN flexible mixed, BMN Spanish stock exchange, BMN flexible portfolio 20, BMN flexible portfolio 50, BMN US stock exchange, BMN Horizon 2018, BMN guaranteed selection XI and BMN fund selection Europe are the 12 funds of BMN to be absorbed by Bankia funds, and whose conditions and commissions may change given the move.

Spanish bank Bankia was authorised to absorb Banco Mare Nostrum (BMN) after it received European Central Bank (ECB) regulatory approvals on January 2018 through a merger by absorption implying the exchange of BMN shares for Bankia shares, to take place after the deed is inscribed in the Mercantile Registry.

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