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13 February 2012

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Top Spanish banks set to take 66% of Metrovacesa

Top Spanish banks are set to take an additional 10% stake in Spain's largest listed property group, the struggling Metrovacesa, bringing holdings to 66% and clearing the way for the appointment of new management to tackle the firms's financing problems. Santander, BBVA, Banesto, Popular, Sabadell and savings bank Caja Madrid will add a further 10% to the 54.7% previously announced to assume from the major shareholding Sanahuja family

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