Spanish bank BBVA, which currently owns 49.85% of Garanti Bank, took action to buy the whole bank. BBVA made a total offer of 2.2 billion euros.
Garanti Bank, one of the largest private banks in Turkey and serving under the name Garanti BBVA since 2019, started the week with news that energized the market. In the statement submitted to the Public Disclosure Platform in the morning, the Spanish-based bank BBVA, which owns 49.85% of Garanti Bank, to buy all the remaining shares announced as a candidate.
Garanti Bank, in a statement to the Public Disclosure Platform, announced that it has decided to make a voluntary takeover bid for all of its non-BBVA shares. Voluntary takeover offer, representing 50.15% of the total capital of the Company. for 2,106,300,000 shares it will be. BBVA will offer 12.20 TL for each share.
If the acquisition takes place, BBVA will own all shares of Garanti, paying 2.2 billion euros:
The value of the 50.15% share mentioned in the voluntary takeover offer, which is not currently owned by BBVA, has reached approximately 25 billion 697 million TL when calculated from 12.20 TL per share. (2 billion 249 million euros) coincides. BBVA will fully own Garanti Bank when the acquisition takes place.
The news was also reflected in Garanti’s share price:
Garanti BBVA, which closed its shares at 10.55 TL on Friday, 12 November, increased its value per share with the publication of the notification. Delivered to 11.63 TL. Carlos Torres Villa, Chairman of the Board of BBVA, said:This transaction provides a great opportunity to invest in the nation’s best bank and create value for our shareholders.” used the phrases.
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