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The presidents of Sabadell, Josep Oliu, and BBVA, Carlos Torres, at an official event at the Bank of Spain. Alberto Ortega / Europa Press
BBVA Highlights Sabadell's Headquarters Move Does Not Affect Merger Benefits

BBVA Highlights Sabadell's Headquarters Move Does Not Affect Merger Benefits

The bank led by Carlos Torres expresses respect for the decision of the entity it intends to acquire

E.P.

Miércoles, 22 de enero 2025, 14:35

BBVA respects Banco Sabadell's decision to move its headquarters from Alicante to Sabadell (Catalonia), but states that it does not affect the takeover bid it plans to launch for the entity, according to sources from the bank reported to Europa Press on Wednesday.

"It is a decision by Banco Sabadell that we respect. Regarding the takeover bid, it does not change the benefits of the operation: it is good for Spain, for Catalonia, and for the other regions where Banco Sabadell operates, as well as for the customers, employees, and shareholders of both banks," they detailed.

The board of directors of Banco Sabadell is expected to meet this Wednesday, in an extraordinary session, to discuss the relocation of the headquarters to Sabadell, after seven years in Alicante. If approved, it will mark Sabadell's return to Catalonia, from where it moved on October 5, 2017, during the height of the Catalan 'procés'.

Politically, this coincides with the presence of socialist Salvador Illa as the president of the Generalitat, a position he assumed in the summer of 2024, amidst the government's negotiations with Catalan separatists, including the General State Budgets (PGE).

It is worth noting that in May 2024, BBVA announced its intention to purchase and merge with Sabadell, an operation that would maintain a single social headquarters in Bilbao, but two corporate decision centers: in Madrid and in Sant Cugat del Vallés (Barcelona).

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todoalicante BBVA Highlights Sabadell's Headquarters Move Does Not Affect Merger Benefits