Banco Bilbao Vizcaya Argentaria SA Agreement with Neon Payments Limited (5597B)
14 February 2022 - 06:35PM
UK Regulatory
TIDMBVA
RNS Number : 5597B
Banco Bilbao Vizcaya Argentaria SA
14 February 2022
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. ("BBVA"), pursuant to the
provisions of the Securities Market legislation, hereby
communicates the following:
INSIDE INFORMATION
BBVA has reached an agreement with the company "Neon Payments
Limited" (the "Company") for the subscription of 492,692 preference
shares of the Company (the "Shares"), representing approximately
21.7% of its share capital, through a share capital increase and in
consideration of approximately USD 300 million ([1]) (the
"Subscription").
The Company, a company incorporated and domiciled in the United
Kingdom, is the owner of 100% of the shares of the Brazilian
company "Neon Pagamentos S.A.".
As at the date of this communication, BBVA is already the
indirect owner of approximately 10.2% of the share capital of the
Company ([2]) . Upon completion of the Subscription, BBVA will hold
direct and indirectly, approximately 29.7% ([3]) of the share
capital of the Company.
BBVA estimates that Subscription of the Shares and payment of
the price will take place during February 2022. BBVA and the other
current shareholders of the Company will also enter into a
shareholders agreement that will contain minority shareholders'
protection rights as it is customary in this kind of
transactions.
The Subscription of the Shares will imply a consumption of
Common Equity Tier 1 (fully loaded) of approximately 10 basis
points ([4]) .
Madrid, February 14, 2022
([1]) Equal to approximately EUR 263 million, using the
applicable EUR-USD exchange rate as of February 11, 2022, this is
1.14.
([2]) Through "Propel Venture Partners Global, S.L." and "Propel
Venture Partners Brazil, S.L.". BBVA owns more than 99% of the
share capital of these two companies.
([3]) Equal to approximately 25.6% of the share capital on a
fully diluted basis (this is, assuming the issuance of all the
shares under all the current share options granted by the
Company).
([4]) Calculated taking into consideration the BBVA group's
financial statements as of December 31, 2021
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END
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