Banco Financiero y de Ahorros (BFA), Bankia's parent company, has instructed Citigroup Global Markets Limited, UBS Finance and BEKA Finance to sell its entire holding in Iberdrola, representing 4.94% of the electricity company's capital.

The transaction will be carried out via an accelerated sale procedure and is expected to be completed within one day.

The BFA-Bankia Group owns 314,887,559 Iberdrola shares. The divestment forms part of its Strategic Plan 2012-2015, which includes the sale of its portfolio of holdings.

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