There was a remarkable development in the issue of the complete transfer of Garanti Bank to BBVA. According to the agreement, BBVA, which was going to pay 2.2 billion euros only a few weeks ago, will now pay 1.8 billion euros, as the agreement is made in TL and the Turkish lira has depreciated seriously in recent days. Thus, BBVA saved 500 million Euros from the sale of Garanti Bank.
In one of our content that we shared with you in the past days, the most popular special from banks as Garanti will pass on to BBVA. we talked about. According to the data of that day, Spain-based BBVA paid a total of 12.2 TL per lot for the 2,106,300,000 share lots owned by Garanti Bank. 2.2 billion euros would pay. However, this situation changed due to the depreciation of the Turkish lira. BBVA, acquisition of Garanti Bank Saved around 500 million euros.
The explanations on the subject were made by Onur Genç, who is the CEO of BBVA. “in the currency depreciation changed the value of our purchase offer.Young said, “As an agreement has been reached, he is in the contract. cannot be changed told.
BBVA to pay 1.8 billion euros to acquire Garanti Bank (for now)
According to Garanti Bank, which made statements to the Public Disclosure Platform (KAP), BBVA would pay 12.2 TL per lot for the shares held by Garanti Bank. This makes around 25 billion 697 million TL. Now this money to 1.8 billion euros corresponding to. This situation is not a good thing for Garanti Bank, but it is obvious that there are smiles on the faces at BBVA…
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Source :
https://t24.com.tr/haber/bbva-ceo-su-genc-tl-deki-kayip-garanti-hisselerin-alim-maliyetini-dusuruygu,996959