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Top related persons:
Carlos Torres Vila - 1
Top related locs:
Spanish Madrid Spain
Top related orgs:
BBVA - 1 Sabadell - 1 Banco - 1 Hostile - 1 UBI Banca - 1 Spain's - 1 Santander - 1

Search resuls for: "UBI Banca"


2 mentions found


☆ Spain's BBVA announces $13 billion hostile takeover bid for Sabadell
  + stars: | 2024-05-09 | by ( ) www.cnbc.com   time to read: +1 min
The headquarters of the Spanish bank BBVA are seen in Madrid, Spain. Spanish bank BBVA on Thursday presented a 12.23 billion euro ($13.11 billion) takeover bid for rival Sabadell directly to shareholders, even though Sabadell's board this week already rejected the proposal on the same terms. BBVA's decision follows Sabadell's board on Monday saying the unsolicited bid significantly undervalued the bank's potential and growth prospects. BBVA, Spain's second-biggest bank by market value after Santander, offered an exchange ratio of 1 newly issued BBVA share for every 4.83 Sabadell shares, a premium of 30% over April 29 closing prices. Spanish banks have been looking for ways to increase revenue as a boost from high interest rates begins to fade.
Persons: Carlos Torres Vila Organizations: BBVA, Sabadell, Banco, Hostile, UBI Banca, Spain's, Santander Locations: Spanish, Madrid, Spain
☆ Warburg Pincus moves closer to buying a stake in Chinese fund Zhong Ou
  + stars: | 2023-02-13 | by ( ) www.reuters.com   time to read: +2 min
Italian banking group Intesa Sanpaolo (ISP.MI) disclosed in its 2021 annual report that its board had approved the sale of a 23.3% stake in Zhong Ou to Warbug Pincus. The planned 23.3% stake sale to Warburg Pincus was confirmed on Monday by a source familiar with the transaction. The CSRC did not say how big a stake Warburg Pincus will buy in Zhong Ou, which has more than 350 billion yuan ($51.3 billion) of assets under management (AUM). In the regulatory feedback, the CSRC asked Warburg Pincus to explain how it would support Zhong Ou's development. The regulator also requested further proof from Warburg Pincus that it's a leading global player with good international reputation and performance.
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