BBVA's decision on the takeover bid for Sabadell
Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), in compliance with the Securities Market legislation and further to the disclosure of inside information dated June 24, 2025 (with registration number 2791), hereby communicates the following:
INSIDE INFORMATION
In relation to the voluntary tender offer launched by BBVA for the entire share capital of Banco de Sabadell, S.A. (the "Offer"), for which the prior announcement was published as inside information on May 9, 2024 (with registration number 2241) and the request for authorisation was submitted to the Spanish Securities Market Commission (CNMV) on May 24, 2024, BBVA hereby informs that:
On June 24, 2025, the Council of Ministers reported the resolution adopted on the same day authorizing the economic concentration resulting from the Offer, subject to an additional condition to those commitments already submitted by BBVA and included in the resolution of the National Commission on Markets and Competition dated April 30, 2025. The full resolution issued by the Council of Ministers is available at this link (in Spanish).
The aforementioned resolution of the Council of Ministers brought to an end the merger control procedure in Spain, with BBVA having the right to withdraw the Offer pursuant to Article 26.1(c) of Royal Decree 1066/2007, of 27 July, on tender offer rules, given that the authorization granted is subject to a condition.
After reviewing said resolution, BBVA has decided not to withdraw the Offer and, therefore, it remains in effect in accordance with the applicable regulations.
Madrid, June 30, 2025
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