Banco Bilbao Vizcaya Argentaria S.A. (BBVA) sold a stake in China CITIC Bank Corp. Ltd. (00998.HK) for 944 million euros (US$1.3 billion), the Spanish lender said in a statement on Thursday. BBVA sold 5.1 percent of CITIC Bank to CITIC Group, the Chinese bank’s parent, the statement said. BBVA will keep a 9.9 percent stake after the sale which is subject to regulatory approval. The deal is expected to close by the end of the year, the statement said.
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