BBVA reaches 86% stake in Guarantee at the conclusion of takeover bids


The takeover bid will have an outlay for BBVA of 22,757 million Turkish lira (1,350 million euros).

BBVA stake reached

A portion of BBVA has been reached 86% More Guarantee Close Public Procurement Offer (OPA) According to the data registered with the Turkish Stock Market Observer, of a voluntary nature which was launched by the Spanish banking group on its Turkish subsidiary.

The operation is carried out at 50.15%, which BBVA did not yet have under guarantee—previously it controlled 49.85%—and was stipulated to exceed 50% of the stake, something that the bank pledged against the guarantee. Acquired after raising the share price. Acquisition bid from 12.20 to 15 Turkish Lira.

With that price, the takeover bid at the end would mean a disbursements to BBVA of 22,757 million Turkish lira (1,350 million euros), Since approximately 3,220 shareholders controlling approximately 1,517 million shares have joined the operation.

BBVA plans to pay a maximum of 31,595 million Turkish lira (about 1,965 million euros) in the event that all guaranteed shareholders sell their shares to the entity. Similarly, under this condition, it estimated a maximum impact of -34 basis points on the ‘full loaded’ CET1 ratio.

BBVA’s Board of Directors agreed to launch a voluntary takeover bid on 15 November 2021 for 50.15%, which was not controlled in the guarantee, although the acceptance period did not begin until 4 April.

Initially, the acceptance period lasted 20 business days until 29 April, although the BBVA eventually announced a two-week extension, today until 18 May.

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