Mexican investor David Martinez sells 1.6% stake in Sabadell

MADRID, July 21 (Reuters) - David Martinez, one of Banco Sabadell's largest shareholders who stepped down from the Spanish lender's board last year, has sold a stake of nearly 1.6% in the bank, according to stock market supervisor data reviewed by Reuters on Tuesday.

• Following his disposal of the 1.558% stake in Sabadell, Martinez still retains a 1.937% holding in Spain's fourth-biggest lender - worth around €300 million ($343 million)at Monday's closing price.

• Neither the price of the transaction nor the identity of the buyer or buyers has been disclosed.

• Martinez was the largest individual shareholder who signalled he would accept the hostile takeover offer for Sabadell launched by larger rival BBVA, which ultimately failed.

• The remainder of Sabadell's board had told shareholders to reject the revised offer of around €17 billion, arguing it still undervalued the bank.($1 = 0.8753 euros)

(Reporting by Jesús Aguado; Editing by David Latona and)