(Finance) – BBVAa Spanish banking giant, has required toSpanish Supervisory Authority L’authorization to the public takeover offer (OPA) voluntary on the rival’s actions Sabadell Bank.
The bidder has decided to launch a takeover bid hostile to acquire all the shares issued by Banco de Sabadell. In particular, the offer will be aimed at a total of 5,440,221,447 ordinary shares of the target company, with a nominal value of 0.125 euros each, belonging to a single class and series, representing 100% of its share capital.
The offering will require the following additional regulatory approvals: (i) from the European Central Bank in connection with the acquisition of indirect control, or the indirect acquisition of a significant interest in, foreign subsidiaries and affiliates of the target company TSB Bank PLC (UK), Banco Sabadell, SA, Institución de Banca Múltiple (Mexico), Sabcapital, SA de CV, SOFOM, ER (Mexico), Banco Atlántico (Bahamas), Bank &Trust Ltd. (in liquidation) (Bahamas) and Financiera Iberoamericano, SA (Cuba); (ii) from CNMV in relation to the acquisition of indirect control of Sabadell Securities USA, Inc., a broker dealer controlled by target in the United States of America; and (iii) from Central Bank of Moroccoin relation to the indirect change of control of the target branch in Casablanca (Morocco).