Sabadell Bank

In Spain 2nd July 2025

Santander Buys TSB from Sabadell for €3.1 Billion

Banco Santander—currently the UK’s fourth-largest mortgage lender—will pay £2.65 billion (approximately €3.1 billion) in cash for TSB, the ninth-largest bank in the country. In addition to this, Sabadell will receive the €300 million that TSB is expected to earn until the transaction closes during the first quarter of 2026. This deal will allow Sabadell to pay €3.8 billion in dividends (equivalent to 1/6 of the bank’s capitalization) over the next…

Spanish economy 1st July 2025

BBVA Maintains Hostile Takeover Bid for Sabadell, Which Must Decide on TSB Sale

Carlos Torres’s BBVA has announced that it is pressing ahead, come hell or high water, with its hostile takeover bid for Banco Sabadell. The bank sent a note to the National Securities Market Commission (CNMV) reiterating its firm intention to acquire the Barcelona-based bank, despite the latter’s board of directors meeting this Tuesday to analyze an offer from Banco Santander to acquire its British subsidiary, TSB, for just under €2.7…

In Spain 25th June 2025

Government Blocks BBVA-Sabadell Merger for Three Years and Prohibits Operation-Related Layoffs

The Council of Ministers has made the operation contingent on BBVA maintaining Sabadell as an independent entity for three years, extendable by two, which effectively prevents the merger BBVA sought. The group chaired by Carlos Torres will be able to change Sabadell’s board of directors, but cannot implement joint staff adjustments or branch network changes associated with the operation. Each entity will have to preserve its legal personality, separate assets,…

In Spain 28th May 2025

Sánchez, pressured by Puigdemont, will decide on BBVA’s Sabadell takeover bid within 30 days

The Minister of Economy, Trade, and Business, Carlos Cuerpo, has finally decided to elevate BBVA’s public takeover bid (OPA) for Banco Sabadell to the Council of Ministers for the integration to be examined for reasons of general interest other than competition. This is a move expected by the market. Now, a period of 30 calendar days begins for the Council of Ministers to issue its opinion on the OPA. The…

In Spain 22nd January 2025

Banco Sabadell to establish HQ in Catalonia once again

Amid the BBVA’s takeover bid for Banco Sabadell, the bank has decided to leave its current headquarters in Alicante—where it moved on October 5, 2017, at the beginning of the Catalan independence process—to return to Catalonia, to Sabadell. This decision is pending ratification by the Board of Directors. According to analysts, returning to Catalonia will allow Banco Sabadell to gather political and social support to hinder the ‘assault’ by the…

In Spain 17th December 2024

Andrea Orcel’s Bicycle and the BBVA-Sabadell Confusion

Aurelio Medel (5 Días) | The head of Unicredit accelerates acquisitions to maintain profit growth and attempt to lead European consolidation. Andrea Orcel took over Unicredit with the stock below 10 euros and has driven it above 40. However, shares of the second Italian bank began to show signs of fatigue in the summer, and not only because it has already quadrupled its value. It is also due to the…

Spanish economy 13th November 2024

Competition Commission further complicates BBVA’s Sabadell takeover bid, extends it until summer 2025

The National Commission on Markets and Competition (CNMC) has moved BBVA’s takeover bid for Sabadell to Phase 2. The agency will continue analyzing the operation while extending the analysis period by another three months to allow new stakeholders to voice their opinions. The government will now have the authority to demand additional conditions based on the general interest or even veto the merger. This decision comes despite BBVA offering a…

In Europe 11th October 2024

FCA fines TSB, Sabadell’s British subsidiary, for unfair treatment of customers with problems

The Financial Conduct Authority (FCA) has fined TSB, the British subsidiary of Banco Sabadell, £10.91 million (around €13.04 million) for “unfair” treatment of customers struggling to meet their loans, primarily mortgages. According to the FCA, TSB Bank “failed to ensure that customers in arrears were treated fairly.” “It also lacked the proper controls and systems to ensure good outcomes,” it adds. The issues occurred between June 2014 and March 2020….

Spanish economy 4th October 2024

“We do think Sabadell shareholders value having part of the proposed compensation paid in cash, as protection in the face of potential volatility in BBVA’s share price”

Jefferies | BBVA’s Adjusted Offer to Sabadell: Cash Component Was a Given. The adjusted offer made by BBVA to SAB, including the newly added cash component, comes as no surprise, as it is well in line with the adjustment terms described in the initial offer. We note a delay in the timeline of the deal would mechanically increase the cash proportion of the offer, which would have to reflect all…

In Spain 4th October 2024

Banco Sabadell claims that BBVA has worsened the conditions of its takeover bid after making adjustments to the share exchange

On Tuesday, October 1, BBVA announced a change in the share exchange it was offering for Sabadell in the takeover bid it has proposed to acquire the Catalan entity: it changed from offering one new BBVA share for 4.83 Sabadell shares to offering one share of the bank for 5.0196 shares of the Catalan bank and a cash payment of 0.29 euros per share. According to BBVA, this change aligns…

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