REG - Banco Bil.Viz.Argent - Acquisition of Catalunya Banc, S.A. <Origin Href="QuoteRef">BBVA.MC</Origin>

Banco Bilbao Vizcaya Argentaria SAAnnouncement

06/09/2014 18:41

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RNS Number : 9270M
Banco Bilbao Vizcaya Argentaria SA
21 July 2014 
 
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of
the Spanish Securities Market Act, hereby proceeds by means of the present
document to notify the following: 
 
RELEVANT INFORMATION 
 
The Management Commission of the Banking Reestructuring Fund (known as "FROB")
has accepted today BBVA´s bid in the competitive auction for the acquisition
of Catalunya Banc, S.A. ("Catalunya Banc"). 
 
As a consequence, BBVA has executed a sale and purchase agreement with FROB,
by virtue of which FROB will sell up to 100% of the shares of Catalunya Banc
to BBVA for the price of up to 1,187 million Euros. 
 
The price will be reduced in an amount equal to 267 million Euros provided
that, prior to the effective closing of the transaction, FROB and Catalunya
Banc do not obtain a confirmation issued by the Spanish tax authorities of the
application of the deferred tax assets regime (foreseen in Royal Decree Law
14/2013) to some losses recorded in Catalunya Banc's consolidated financial
statements for 2013 which were originated as a consequence of the transfer of
assets by Catalunya Banc to the Management Company for Assets Arising from the
Banking Sector Reorganisation (known as "SAREB"). 
 
Closing of the sale and purchase transaction will be subject, among others, to
the obtaining of the relevant administrative authorizations and approvals and
to the effective closing of the transaction announced by Catalunya Banc to the
market on July 17, 2014 whereby Catalunya Banc will transfer to an asset
securitization fund a loan portfolio with a nominal value of 6,392 million
Euros. 
 
Tomorrow at 10:00 (Madrid time) BBVA will present the transaction to
investment analysts. 
 
Any interested party can follow the presentation via BBVA's web site on the
Internet (www.bbva.com). 
 
A recording of the presentation will be available on BBVA's web site, for a
period of at least one month. 
 
Madrid, July 21, 2014 
 
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