BBVA, which wants to buy the whole of Garanti Bank, has come a little closer to achieving its goal. The Spanish bank bought 36.12 percent of Garanti for TL 22 billion. Thus, BBVA acquired 85.97 percent of Garanti in total.
Garanti Bank has been a Spanish-based bank for the last few years. BBVA‘s incorporation and what happened in this process are on the agenda. In the first place, BBVA acquired Garanti Bank a few years ago. 49.85 percent and became the bank’s largest shareholder. In the next period, it is stated that BBVA aspires to complete Garanti Bank. was announced.
The purchasing process, which continued for months, occupied the agenda of the sector for a long time. The depreciation of TL in this process, for BBVA made things easier. In the first statement, the sale price offer, which was 2.2 billion euros, was automatically reduced to 1.8 billion euros due to the depreciation of the TL. had regressed. In a development that took place a few weeks ago, BBVA increased its bids for Garanti Bank shares. was announced. However, due to the continuing depreciation in TL, BBVA he was still in a profitable spot from his first bid. Now, there has been a new development regarding this process, which has turned into a mess.
BBVA officially acquired 85.97 percent of Garanti
In the statement made to the Public Disclosure Platform (KAP), BBVA’s Garanti Bank to 85.97 percent It was announced that it was agreed to have. This event went down in history as the largest share purchase in Turkish banking history. It was announced that the purchase price was 22 billion 757 million 938 thousand 352 TL. This is approximately as of 19 May 2022 10:20. 1.3 billion euros it corresponds to…
The following statements are used in the statement on KAP:In the process of the Voluntary Takeover Offer, BBVA has agreed with a total nominal value of 1,517,195,890,189 Turkish Liras and Garanti BBVA’s total capital. which corresponds to 36.12% Garanti BBVA bought its share. The total amount paid by BBVA for the said shares is 22.757.938.352.85 Turkish Liras. As a result of the Voluntary Takeover Offer, BBVA’s shareholding rate in Garanti BBVA as of the date of this announcement. to 85.97 percent reached.”
Source :
https://t24.com.tr/haber/bbva-nin-gonullu-pay-alim-teklifi-sonuclandi,1035100