BBVA

Companies 29th August 2025

BBVA to adjust exchange ratio for Sabadell takeover bid again: one share plus €0.70 for every 5.5483 shares in Catalan bank

Link Securities | BBVA will once again update the exchange ratio for its takeover bid for Banco Sabadell after the Catalan bank paid its shareholders a new cash dividend of €0.07 per share, according to the newspaper Expansión. The bank will therefore change its offer from one BBVA share plus €0.70 for every 5.3456 Sabadell shares to one newly issued share of the acquiring bank plus the aforementioned €0.70 for…

Companies 21st August 2025

BBVA places €1 billion in senior non-preferred green bonds

CdM | BBVA has placed €1 billion in senior non-preferred green bonds with a ten-year maturity on Wednesday, maturing in 2035. Demand for the bonds peaked at €2.9 billion, reflecting investor appetite for this type of green-labelled product. At the close of the issue, the price was set at mid-swap plus 108 basis points, significantly below the initial price (mid-swap plus 135 basis points). This is the lowest spread on…

Companies, Relevant News Item 18th August 2025

BBVA to readjust Sabadell takeover bid exchange ratio at end of month

Link Securities | BBVA (BBVA) will readjust the exchange ratio of its takeover bid for 100% of the capital of Banco Sabadell (SAB) at the end of the month to update the offer, as SAB will distribute a new cash dividend of 7 euro cents per share to its shareholders on 29 August, according to Cinco Días newspaper. The bank will thus move from offering one BBVA share plus 70…

Companies, Relevant News Item 13th August 2025

Analysts suggest BBVA could improve Sabadell bid by up to €2 billion

Alphavalue/DIVACONS | The financial institution chaired by Carlos Torres announced to the National Securities Market Commission (CNMV) that it is moving forward with its takeover bid for Banco Sabadell (SAB) (add Target Price €3.74/share), despite the recent confirmation of the sale of TSB for €3.1 billion and the approval of the €2.5 billion macro dividend. BBVA will update its offer at the end of August or early September. Some analysts…

Companies, Relevant News Item 12th August 2025

BBVA decides to press ahead with Sabadell bid

Renta 4 | BBVA (BBVA) has confirmed in a significant event, following the Extraordinary General Shareholders’ Meeting held by Sabadell at which the sale of TSB and the distribution of an extraordinary dividend of 50 cents were approved, that it has decided to press ahead with its takeover bid for Sabadell. Assessment: We believe that this decision to go ahead is in line with expectations. Currently, the exchange ratio puts…

Companies, Relevant News Item 1st August 2025

BBVA opens door to withdrawing takeover bid for Sabadell after Catalan bank’s board meeting to approve TSB sale to Santander

Link Securities | BBVA (BBVA) has opened the door to withdrawing its hostile takeover bid for Banco Sabadell (SAB) following the extraordinary shareholders’ meetings to be held by the Catalan bank on 6 August to approve the sale of TSB to Santander (SAN) and the subsequent distribution of an extraordinary dividend of €2.5 billion, according to the newspaper Expnasión. ‘There are no guarantees,’ said BBVA CEO Onur Genç in response…

Companies, Ibex 22nd July 2025

BBVA delays presentation of takeover bid for Banco Sabadell until September

Renta 4 | BBVA (BBVA) has confirmed that the acceptance period will begin in early September. The aim is for the prospectus to include both the results for the first half of 2025 and those of the Extraordinary General Shareholders’ Meeting of Banco Sabadell (SAB), where the sale of TSB and the distribution of the extraordinary dividend of €0.5 per share will be submitted for approval. Assessment: This decision avoids…

Companies, Relevant News Item 21st July 2025

Extraordinary dividend of €2.5 billion Sabadell wants to approve could give BBVA option to raise price of offer by same amount

Link Securities | BBVA executives have the option of modifying the terms of their bid to take control of Banco Sabadell, particularly the exchange ratio, which most analysts consider essential to make the offer attractive to the Catalan bank’s shareholders, given the current share price gap in Sabadell’s favour, according to today’s Expansión. The extraordinary dividend of €2.5 billion that Sabadell’s Board of Directors wants the bank’s Shareholders’ Meeting to…

Companies, In Europe 18th July 2025

EC opens infringement proceedings against Spain over conditions imposed by government on BBVA Sabadell takeover bid

Alphavalue/DIVACONS | The European Commission announced on Thursday that it was opening infringement proceedings against Spain over the conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB). Brussels specifically objects to the discretionary powers granted to the government by Spanish law to block such transactions. The EU executive considers that the scope of these powers exceeds the scope of the general interest. BBVA: Buy, Target Price…

In Spain 10th July 2025

EC finalising infringement proceedings against Spain for additional conditions imposed by government on BBVA’s Sabadell takeover bid

Link Securities | The European Commission (EC) is finalising the opening of infringement proceedings against Spain for the additional conditions imposed by the government on BBVA’s takeover bid for Banco Sabadell (SAB), as it considers that the government has overstepped its powers and that its actions are contrary to the free movement of capital. and will therefore take measures before the summer break that could eventually escalate to a complaint…

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