BBVA acquires Catalunya Banc
Spain’s BBVA says it has completed acquisition of 98.4 percent Catalunya Banc for about €1.165bn.
BBVA’s CEO Francisco González announced that the local regulator Comisión Nacional del Mercado de Valores (CNMV) gave the approval.
BBVA will acquire 1,947,166,809 shares of Catalunya Banc for the price of €1.165bn.
The sale is part of Catalunya Banc’s restructuring plan, which makes the company regain its pensions and securities business.