Banco Bilbao Vizcaya Argentaria SA Acquisition agreement 9,95% of Garanti (4856X)
22 February 2017 - 6:00PM
UK Regulatory
TIDMBVA
RNS Number : 4856X
Banco Bilbao Vizcaya Argentaria SA
21 February 2017
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with
the Securities Market legislation, hereby communicates the
following:
RELEVANT INFORMATION
BBVA has entered today into an agreement for the acquisition
from Dogus Holding A.S. and Dogus Arastirma Gelistirme ve
Musavirlik Hizmetleri A.S. (together, the "Sellers" or "Dogus") of
41,790,000,000 shares of Turkiye Garanti Bankasi, A.S. ("Garanti
Bank") amounting to 9.95% of the total issued share capital of
Garanti Bank (the "Acquisition" and the "Shares", respectively), at
a total consideration of 7.95 Turkish Liras per share(1) (amounting
to approximately a total of 3,322 MM Turkish Liras or 859 MM
Euros(2) ).
Completion of the Acquisition is conditional, among others, on
(i) obtaining the approval of the general assembly of each of the
Sellers authorizing the execution of the Acquisition and the
transfer of the Shares to BBVA and (ii) obtaining of the applicable
regulatory approvals.
Completion of the Acquisition is expected to occur during the
first half of 2017.
Upon completion of the Acquisition, the shareholding structure
of Garanti Bank will approximately be as follows:
Shareholders'
stakes
BBVA 49.85%
Dogus 0.05%
Rest 50.1%
-------
Total 100%
Upon completion of the Acquisition, the amended and restated
shareholders agreement dated November 19, 2014 executed by and
among Dogus Holding A.S., Dogus Nakliyat ve Ticaret A.S., Dogus
Arastırma Gelistirme ve Musavirlik Hizmetleri A.S. and BBVA will no
longer be in force.
The Acquisition is estimated to have a negative impact on the
Common Equity Tier 1 (fully loaded) of approximately 19 basis
points.(3)
Madrid, February 21(st) , 2017
(1) The shares of Garanti Bank are listed in batches of 100
shares. Thus, the prices per share included herein refer to prices
per batch of 100 shares each.
(2) The exchange rate used in this document is: TL/EUR=3.8657,
which is the exchange rate as of February 17(th) , 2017.
(3) Impact on the Common Equity Tier (fully loaded) is
calculated based on the December 2016 reported ratio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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