July 20, 2024 | 12:18


This is BBVA's offer to Sabadell

Jesus Carames

May 1, 2024 | 7:14 p.m.

BBVA has proposed a merger by absorption with Banco Sabadell which includes a 30% premium on the current value of Sabadell shares. This offer translates into an exchange of 1 new BBVA share for every 4.83 shares of Banco Sabadell, as communicated to the National Securities Market Commission (CNMV).

This proposal reflects a significant increase over the closing price of the shares of both banks as of April 29, as well as an increase of 42% compared to the average of the last month and 50% compared to the average of the last three months. The operation would be carried out through the issuance of new ordinary shares of BBVA, reserved exclusively for Banco Sabadell shareholders, and whose listing would be requested on the Spanish Continuous Market and other relevant markets.

This merger not only aims to strengthen BBVA's position in the banking sector, but also promises to create a banking giant capable of competing more effectively on a global level. The proposal still needs approval from the boards of directors of both entities and regulators, but marks a significant step in the consolidation of the Spanish and European banking sector.

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