Bank Of America Becomes Sabadell’s Largest Shareholder With The Unveiling Of A 6.3% Stake

Sabadell sells toxic assets

As reported today by Europa Press, Bank of America Corporation has unveiled a 6.3% stake in Banco Sabadell. This makes it the largest significant shareholder of the bank, ahead of BlackRock and David Martinez, according to National Securities Market Commission (CNMV) records. Specifically, Bank of America has notified its control of 6.323% of the bank’s shares, both through voting rights, with 1.681%, and financial instruments, with 4.642%. This movement took place on 10 June, when the Sabadell share closed below 0.8 euros per share, at 0.79 euros.

At the current price of 0.77 euros per share, Bank of America’s stake in the Spanish bank is worth approximately 274 million euros. Bank of America thus becomes the largest shareholder by percentage of ownership, ahead of BlackRock (4.991%), David Martínez Guzmán (3.495%), Lewis A. Sanders (3.473%), Fintech Europe (3.105%) and Dimensional Fund Advisors (3.011%).

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