US EditionSabadell Calls Two Shareholder Meetings For TSB Deal, Dividend
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12 Articles
Sabadell Calls Two Shareholder Meetings For TSB Deal, Dividend
Banco Sabadell SA has called two shareholders meetings as it seeks to approve an extraordinary dividend after agreeing to sell it’s UK unit — part of its broader attempt to block a takeover by larger rival BBVA SA.
Banco Sabadell gives way to the demands of the National Securities Market Commission (CNMV) and convenes two extraordinary shareholders' meetings for next August 6, when it is expected that they will decide on the sale of TSB and the distribution of a macrodividend as a result of that operation. According to a statement, the entity has stipulated a first appointment at 10 a.m. that will address the transfer of its British subsidiary to Banco San…
Next August 6 will be a busy day for the shareholders of Sabadell. The Catalan bank has decided to convene two shareholders’ meetings on the same day. One to say yes to the sale of its British subsidiary, TSB, to Santander and another to give green light to the payment of an extraordinary dividend of 2.5 billion from the money received by the operation.
Market Consensus Alphavalue/DIVACONS The Catalan entity started on Thursday a repurchase operation on a subordinated bond with maturity in 2026 and a coupon of 5.625%. The issue amounts to 500 million euros, according to the institution told the National Securities Market Commission (CNMV). The main purpose of this repurchase, as explained by the entity, is the proactive management of its regulatory capital resources and the minimum requirement…
This operation takes place in a context in which we have in place a BBVA OPA on the Catalan entity.
The Catalan entity has decided to convene two general shareholders' meetings on an extraordinary basis.
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