The National Securities Market Commission (CNMV) has asked Banco Sabadell a series of «clarifications» about the sale of its British subsidiary TSB to Santander, and the Catalan entity has responded insisting that the operation will not affect the OPA launched by BBVA. «There is no No aspect of the contract of sale that may assume the assumption of obligations by BBVA In the event that its voluntary acquisition public offer on the actions of Banco Sabadell currently in process, «he explained. He also added that»There are no aspects of the sale contract that grant a differentiated treatment in the event that the OPA is successful regarding that it does not have it different from those described in the report of the Board of Directors. » Specifically, The contract stipulates that Banco Sabadell may freely establish (or continue) conversations or negotiations with any third party In relation to a change of control and, in addition, as indicated in the report of the Board of Directors, «he says. The CNMV has requested this information for»Allow BBVA Complete the explanatory brochure of the OPA and adopt in relation to this the decisions that proceed in each case. «On the other hand, Sabadell explained that»The final price will be adjusted upwards or the decline (on the basis of the initial price announced) depending on the evolution of the tangible net accounting value between the reference date for the determination of the initial price of TSB (March 31, 2025) and the closing date of the operation. «There are no adjustment mechanisms to the sale price other than that included in the Board of Directors report. The only suspensive conditions to which the consummation of the sale of TSB is subject are those described in the report of the Board of Directors, «he concludes.
