Owners of Malaga kids clothing retailer buy 3% of Unicaja Banco

The wealthy Malaga family that created and owns the Mayoral children's clothing company has acquired a 3.039% stake in Unicaja Banco, another locally based firm.

The market value of the shares acquired by the entrepreneurial Domínguez de Gor family, the head of which is listed by Forbes as the richest person in Andalucía, is over 75 million euros.

The investment places the family as third largest shareholder in the financial group. Besides the Unicaja foundation that still holds 49.6% of the stock, the next largest holding is with Fidelity funds, with 3.7%.

By buying a stake in Unicaja, which is Spain's seventh-largest financial group, the Domínguez de Gor family has taken the latest step in the diversification of its investment away from its Mayoral operation.

The company has already increased its stake in the Adolfo Domínguez clothing brand from 5.45% to 8.54% and is the fourth largest shareholder. In February the family also acquired a 10.5% share of mobile phone operator MásMóvil.

In 2017 Mayoral's turnover was 365 million euros.