Ticket shell for Banco Sabadell for. The Extraordinary Board of the Catalan entity has approved, for an overwhelming majority of 99.6% of the votes, the sale of the British TSB subsidiary to the Santander Bank. Fresh money to pay dividends and be happy to shareholders, the same ones that, in the end, will have in their hand to decide whether it is appropriate to accept the absorption offer presented by the BBVA. The second consecutive board, held as soon as the operation has been endorsed, has validated the distribution of up to 2,500 million to the shareholders thanks to that cash entry from the United Kingdom.
The sale of TSB has a departure price of 3,098 million euros and can amount to 3.3 billion according to the foreseeable market oscillations for when the transfer is completed, scheduled for the first quarter of 2026. “It is a very good operation for the bank and for the shareholders,” said the CEO of Sabadell, César González-Good. The president of the Catalan Bank, Josep Oliu, has made efforts to the pressure to which the BBVA submits it, and has indicated that TSB is sold now because it is an “optimal moment” from the profitable point of view and helps clarify which one has to be “the Sabadell’s future project in solo”. OLIU has stressed that the road map imposes on focusing on the Spanish market to grow.
In 2015, TSB cost Sabadell 1.7 billion pounds, just under 2,000 million euros. He has remained in “The Point of the Great Banks of the United Kingdom,” said the president of the Catalan Bank. “Since 2021 Sabadell has received demonstrations of interest from third parties, which had not been contemplated because it was trusting that TSB could have more value,” said Oliu.
The script of the extraordinary shareholders Board has consisted of a double session. Breakfast and lunch. From the entrance, at 10 in the morning the approval of the sale of TSB to Santander had to be voted and, then, in another board that was planned for 1:00 p.m., the distribution of an extraordinary dividend of 2.5 billion euros associated with the operation was validated. This point has also been approved by the roller method.
The payment is scheduled for April 2026, but Josep Oliu has launched a notice: “If the shareholder sold his shares before or has accepted the BBVA offer, the extraordinary benefit cannot be charged.” More pressure for the Bank of Basque origin.
The attendance at the FIRA of Sabadell has been about 500 people, half of the one registered last March, at the First Board held in the city, after formalizing the return of the headquarters to Catalonia. The delegated vote system has made possible to raise the shareholder to 74.8%. It is the highest since 2004.
Despite the secretary of the Bank Board of Directors, on what was the specific object of the Board, the hostile OPA process launched by the BBVA has marked the word shift.
The CEO of Banco Sabadell, César González-Buenos, has replied that what they ask is that the supply brochure that the BBVA has to present is “very clear” so that the shareholders know what suits them more thinking about their pocket. According to González-Well, the BBVA must say if Banco Sabadell will receive 25% of the value of the bank in dividends and repurchases, and if the percentage will reach 40% to 2027.
“With that we would have a great progress, because for now that information does not exist and, therefore, it is not comparable,” he said, and added that they already warned at first that there was a lack of clarity in aspects such as synergies and their cost of obtaining. He recalled that Banco Sabadell estimates is that synergies will be “zero” in the next three or five years for the conditions placed by the Government.
Last week, the Catalan bank informed the market that between January and June to 975 million, in the best first semester in its history. And, at the same time, he published his new strategic plan, in which he promises to reach a profitability of 16% by 2027 and water his shareholders with 6,300 million in three years, 40% of its stock market value.
The CIMENTA This improvement of the results on the pull of commercial activity. Credit investment improves 6.1% in the year and 3.6% quarterly, highlighting the growth in mortgages, 44% compared to the first half of the previous year. Credit to companies, meanwhile, rebukes 30% with respect to the previous quarter.
