BBVA increases share in Turkish Garanti Bank

Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) has completed the acquisition of 14.89% of the total share capital of Turkiye Garanti Bankasi, A.S. (Garanti Bank), therefore, BBVA’s total stake in Garanti Bank now amounts to 39.90%.

According to Nasdaq, the total price effectively paid by BBVA amounts to 8.765 Turkish Liras per share (amounting to approximately 5,481 MM Turkish Liras and €1,854m ).

The sellers have already received the dividend disclosed by Garanti Bank on April 9, 2015 amounting to 0.135 Turkish Liras per share.

Following the acquisition, BBVA has become Garanti Bank’s first shareholder.

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