Spain starts seeking Bankia privatisation advisers - document
MADRID (Reuters) - Spain's bank restructuring fund FROB is looking to hire at least one investment bank adviser shortly to help it steer a privatisation strategy for bailed-out lender Bankia , according to a FROB document obtained by Reuters.
The document, which listed the conditions under which appointments will be made, said that advisers to FROB would also be allowed to participate as bookrunners in the sell-down of part of the state's 68 percent stake in Bankia.
Banks have until this Friday to pitch for the mandate. Bankia said earlier this week that Spain was preparing to start selling down its stake, a process that will likely happen in phases and over several years.
(Reporting by Carlos Ruano, writing by Sarah White, editing by Tracy Rucinski)
