BBVA in Turkey

Garanti BBVA

BBVA Reaches 86% Of Turkey’s Garanti Following The Takeover Bid

BBVA has reached a stake of 85.97% in its Turkish subsidiary Garanti after the closing of the takeover bid it had launched for the 50.15% of the capital it did not control. The bank, headed by Carlos Torres Vila as chairman, has paid 22,758 million Turkish liras (around 1.410 billion euros at the exchange rate) for the 36.12% it has acquired after the transaction. The payment was made from its…

Garanti BBVA

BBVA Hikes Price Of Bid For 50.15% Of Turkey’s Garanti From 12.20 To 15 Liras/Share

BBVA’s board of directors has decided to increase the price of the takeover bid it launched last November for the 50.15% stake it does not control in Garanti, its Turkish subsidiary. Specifically, the bank has upgraded the takeover bid from 12.20 to 15 Turkish liras per share, as reported to the National Securities Market Commission (CNMV). BBVA flags that the total outlay for the takeover bid will be 31.595 billion…

Garanti BBVA

Turkey Gives The Green Light To BBVA’s Takeover Bid For 50.15% Of Garanti

Turkey’s securities supervisor (Capital Markets Board) has authorised BBVA’s takeover bid for the 50.15% it does not own in Turkish subsidiary Garanti, the bank has informed the National Securities Market Commission (CNMV). The offer will begin on 4 April and end on 29 April. BBVA, which owns 49.85% of Garanti’s capital, announced the takeover bid in November last year. It made the offer at 12.20 Turkish liras per share, with…

Garanti BBVA

BBVA: Turkey Is Better Than The US Or Spain

Fernando González Urbaneja | Turkey consolidates BBVA’s internationalisation as the third leg of a bank based on Mexican, Spanish and Turkish business. Three different markets, three currencies, three economic areas. Diversification with risks, perceived as an opportunity. The Turkish bet is not new. It dates back to 2011 when the bank led by Francisco González surprised the market with the purchase of an almost majority stake in Garanti (49%), one…

BBVA Holvi

With The Turkish Lira At Historic Lows, BBVA Launches A €2.25 billion Takeover Bid For The 51% Stake In Turkey’s Garanti It Does Not Control

BBVA, which currently holds 49.85% of the capital of Turkish bank Garanti has agreed to launch a voluntary takeover bid for the remaining 50.15% it does not hold. BBVA is offering Garanti’s shareholders 12.20 Turkish Liras in cash for each share of the Company. This is a 15% premium to the 10.58 Turkish lira at which the bank’s shares were trading on Friday 12 November. The maximum amount to be…

Garanti BBVA

BBVA Maintains Its Strategy In Turkey As A Long-Term “Well Positioned” Investor

According to Genç, the main risk for the entity in Turkey does not lie in the recent dismissal of the Turkish Central Bank governor, but in foreign currency operations, something that the entity can handle “without problems” as it is a long-term investor. The main risk for the entity in Turkey does not lie in the recent dismissal of the Turkish Central Bank governor, but in foreign currency operations.


BBVA Will Continue To Suffer Because Of Deterioration In Turkey

Turkish President Erdogan has began to exercise his new “attributes”, recently provided by an ever more authoritarian political system, in relation to the monetary policy of the central bank by affirming informally that interest rates will be lowered. This weakened the Turkish Lira from 4.66/$ to 4.85/$ (although it layered recovered to 4.82/$). This had a negative impact on the share price of BBVA, which holds 49.85% in the Turkish bank Garantí.

BBVA adelanteTC

BBVA Chairman Is Losing Sleep Over Turkey

Despite all the international support Erdogan has received since the failed coup on July 15, the situation in Turkey has become complicated because of the President’s reaction. It has fuelled a dangerous dynamic in the Euroasian country which could end up harming the Turkish economy and, therefore, the international companies operating there.

No Picture

BBVA in Turkey: how unrest could harm the Spanish bank

MADRID | By Iñigo Villegui at Capitalmadrid | As unrest rattles in Turkey, markets reportedly experienced their worst day in years on Monday, the lira moving into the red and government bonds suffering major losses. Brokers interested in BBVA are fearing this turmoil can harm the Spanish bank, which since 2010 has a 24.9% stake in the first Turkish bank, Garantí.