BBVA starts the process of integration of Catalunya Banc and its other Spanish subsidiaries – EntornoInteligente

Expand / The company, which controls 98.4% of Catalunya Banc, offer to holders of the remaining 1.6% one share for every ten of his Catalan bank. BBVA also integrate Unoe and Custodian Bank.

Changes in the structure of subsidiaries of BBVA in Spain. The board of directors of the entity chaired by Francisco González has agreed to initiate the process of integration of Catalunya Banc, the Unoe digital bank and the custodian bank.

BBVA part these operations in a process of reorganization of its banking subsidiaries in Spain. In the case of Catalunya Banc, the banking group directly controls 98.4% of the capital, which will offer holders of the remaining 1.6% one share for every ten of his Catalunya Banc materialize when the merger by absorption of the entity.

BBVA announced in July 2014 purchase of Catalunya Banc by 1.165 billion euros, an operation that was formalized in April last year. Specifically, BBVA was made with the participation Reeestructuración Fund for Orderly Bank (FROB), which had a 66.01% in the Catalan, and with the Deposit Guarantee Fund (FGD) of 32.39%.

With the acquisition of Catalunya Banc, the BBVA Group has established itself as a leading entity in the Catalan market, with a market share of 25% and more than 2.6 million customers.

BBVA starts the process of integration of Catalunya Banc and its other Spanish subsidiaries

Information Expansión

http://entornointeligente.com/articulo/8179561/BBVA-inicia-el-proceso-de-integracion-de-Catalunya-Banc-y-de-sus-otras-filiales-espanolas

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