

Sections
Services
Highlight
Tere Compañy Martínez
Alicante
Miércoles, 22 de enero 2025, 19:55
It is now official, Banco Sabadell is moving its registered office back to Catalonia. The Board of Directors approved the return to Barcelona, specifically to number 20, Sant Roc Square in Sabadell, as stated in a communication to the National Securities Market Commission (CNMV).
With this decision, the bank returns to the autonomous community after moving to Alicante on October 5, 2017, amid the Catalan independence process.
This move occurs in the context of the Public Acquisition Offer (OPA) that BBVA intends to launch for Banco Sabadell.
The bank explained in a statement that "the circumstances that prompted its move to Alicante no longer exist" and emphasized that the change will not affect customers or professionals, who will maintain their current locations.
"For shareholders, the only significant change will be the relocation of the Shareholders' Meeting, which will be held in Sabadell this year," it added.
Additionally, the bank has reinforced its commitment "to continue contributing to the economic and social development of Alicante and the entire Valencian Community."
In this regard, the Alicante Technology Competence Center will remain in the city, and the annual meeting of Advisory Councils and the Banco Sabadell Foundation's Marine Sustainability Award will be moved to Alicante.
The bank's decision comes amid BBVA's OPA process, which is in phase 2 of the analysis by the National Commission of Markets and Competition (CNMC) to determine if it can proceed, potentially resolving by mid-year.
The Competition decision to move the operation to phase 2 was based on a "potential impact" on maintaining effective competition in the financial sector, particularly in banking services and payments.
According to the regulator, these are markets where both banks operate simultaneously, as well as in the insurance production and distribution market, pension funds and plans, and asset management market.
Last Monday, the premium on the price BBVA wants to pay for Banco Sabadell in the OPA turned negative, which could imply either the market anticipates an improved offer from BBVA or discounts better prospects for Sabadell than for BBVA.
Specifically, on Monday, it stood at -0.19%, with Sabadell's price at 2.139 euros per share and BBVA's at 10.425 euros, while on Tuesday, shares closed at 2.14 and 10.44 euros, respectively.
However, this Wednesday, the premium slightly returned to positive at 0.09%, following a 0.84% drop in Sabadell's stock to 2.119 euros, and a 0.81% drop in BBVA's to 10.36 euros.
It is worth noting that the price currently offered by BBVA is an exchange of one new BBVA share for 5.019 Sabadell shares plus a cash payment of 0.29 euros per share.
Politically, the headquarters change coincides with the presidency of the Generalitat by socialist Salvador Illa, who took office last summer of 2024, amid government negotiations with Catalan independence supporters.
Banco Sabadell decided to place its headquarters in Alicante - where the Mediterranean Savings Bank (CAM) was headquartered, awarded to Banco Sabadell for the symbolic price of one euro at the end of 2011 - on October 5, 2017.
This was days after the October 1 independence referendum and before the former President of the Generalitat, Carles Puigdemont, declared Catalonia's independence in Parliament and immediately suspended it to allow for a negotiation period.
According to bank sources at the time, the change was to protect customers and ensure the legal security provided by the European Central Bank's (ECB) regulatory framework.
In any case, Banco Sabadell's central services remained in Catalonia, as the change of registered office is largely symbolic, as is the case with other entities like Banco Santander, Bankia, or BBVA, whose registered offices are in Santander, Valencia, and Bilbao, respectively, despite their central offices being in Madrid.
Banco Sabadell is the first listed company in the Ibex35 that moved its registered office in 2017 to decide to return it to Catalonia.
This Wednesday, major companies that also left Catalonia in 2017, such as CaixaBank, Criteria, Cellnex, Naturgy, or Planeta, declined to comment on a possible return.
Last December 3, cement company Molins also approved returning its registered office to Catalonia, after moving it to Madrid in 2017.
Other companies that have decided to return their registered office to Catalonia include Sociedad General de Aguas de Barcelona (SGAB) in September 2018, Red Points in June 2023, and Laboratorios Ordesa in October 2023.
Publicidad
Publicidad
Te puede interesar
Despliegue de guasa e ironía por febrero en Santoña
El Diario Montañés
Publicidad
Publicidad
Esta funcionalidad es exclusiva para registrados.
Reporta un error en esta noticia
Comentar es una ventaja exclusiva para registrados
¿Ya eres registrado?
Inicia sesiónNecesitas ser suscriptor para poder votar.