BBVA to move forward with the transaction with Banco Sabadell
Following the assessment of the condition imposed by the Spanish Council of Ministers on June 24, 2025, BBVA is to move forward with the acquisition of Banco Sabadell as “the project creates significant value for the shareholders of both entities and represents a unique opportunity to build one the most competitive and innovative banks in Europe. Together we will be a stronger institution, with greater scale and the capacity to increase lending to households and business by €5 billion annually, thereby supporting the economic growth of our country,” BBVA Chair Carlos Torres Vila said.
On June 24, 2025, the Spanish Government authorized the economic concentration of BBVA and Banco Sabadell, imposing one condition, in addition to the remedies agreed by BBVA with the Spanish competition authority (CNMC). Said condition requires both entities to maintain, for a period of three years¹, separate legal entities and shareholders’ equity, as well as autonomy in the management. Following the assessment of that condition, BBVA has decided to move forward as the transaction creates value for the shareholders of both entities, despite the fact that the condition will delay the materialization of part of the estimated synergies.
BBVA will update and disclose all the relevant information once it receives the approval of the prospectus for the tender offer from the Spanish Securities Market Commission (CNMV), predictably in the coming weeks.
With this final authorization, which will add to the 27 already received by BBVA since the announcement of the transaction almost 14 months ago, and once the tender period begins, Banco Sabadell shareholders will be able to finally join the most attractive project of European banking. “This is an extraordinarily attractive offer for Banco Sabadell shareholders, who will have the opportunity to join a bank with a unique profile of growth and profitability in Europe,” BBVA Chair Carlos Torres Vila added.