Banco Bilbao Vizcaya Argentaria (ES:BBVA) has released an update.
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Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has announced a voluntary public takeover offer for Banco de Sabadell, S.A., which is pending necessary authorization from the National Securities Market Commission (CNMV). The detailed terms will be disclosed in an explanatory brochure post-authorization, and the offer is part of a strategic decision by BBVA’s Board of Directors, which also includes a forthcoming General Shareholders’ Meeting to discuss the issuance of new shares as consideration. BBVA currently holds a minor stake in Banco de Sabadell, with the intention to redeem shares in the second quarter of 2024.
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