Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 105

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 105
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ordinary General Shareholders’ Meeting approved to authorize the increase of BBVA’s share capital in an amount of up to €551,906,524.05 through the issuance of up to 1,126,339,845 newly-issued BBVA shares to be offered to the holders of the Target Company shares pursuant to the Exchange Offer. On March 21, 2025, BBVA’s Ordinary General Shareholders’ Meeting approved the renewal of such resolution for its exercise within a one (1) year period from such date.

On September 3, 2024, BBVA announced that it had received on September 2, 2024 the authorization from the PRA for BBVA’s indirect acquisition of control of TSB Bank PLC, the Target Company’s banking subsidiary in the United Kingdom, as a result of the Exchange Offer.

On September 5, 2024, BBVA announced that it received the decision of non-opposition from the ECB to BBVA’s taking control of the Target Company, as a result of the Exchange Offer.

On April 30, 2025, the Spanish National Markets and Competition Authority announced its decision to authorize the economic concentration resulting from the Exchange Offer (the “CNMC Resolution”), subject to compliance by BBVA with certain commitments aimed at ensuring financial inclusion, territorial cohesion, protection for vulnerable customers and lending to small and medium-sized enterprises (SMEs) and self-employed customers (the “CNMC Commitments”).

The CNMC Commitments generally have a duration of three years (except for certain specific commitments with a different duration) beginning on the date that BBVA designates a majority of the Target Company’s board of directors (other than, only with respect to BBVA, certain commitments aimed at preserving its physical presence in certain territories and the maintenance of the commercial terms and conditions of certain products and services already contracted, which entered into force on the date the CNMC Resolution became effective on June 24, 2025).

In accordance with Article 58 of Law 15/2007, of July 3, on the defense of competition on May 27, 2025, the Spanish Ministry of Economy, Trade and Business notified BBVA of its decision to refer to the Council of Ministers the CNMC Resolution for review on the grounds of general interest other than competition.

The Council of Ministers issued a decision on June 24, 2025 authorizing the economic concentration resulting from completion of the Exchange Offer subject to an additional condition aimed at protecting the following general interest concerns,