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Spain : BANCO POPULAR hires STJ to advise on a deal
Publish Date : 14-Nov-2012
Spanish bank BANCO Popular Espanol, is seeking to raise up to EUR 2.5bn (2bn pounds) in a make or break stock sale and has hired STJ Advisors, the London-based equity advisory group, as its adviser on the deal.
The Spanish bank has perhaps hired STJ to help it draw up a pool of lenders.
However, some say the move has caused friction as STJ is known to seek a lot of investor information the banks view as time-consuming to provide.
Banco Santander, Deutsche Bank and JP Morgan are expected to run the sale. Talks have been entered into with over a dozen other banks too, including Bank of America Merrill Lynch, Citigroup. and UBS.
