Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 83

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 83
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MC 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, other than those relating to the defense of competition: (i) ensuring an adequate maintenance of the objectives of the sectoral regulation linked to support for growth and business activity; (ii) protection of workers; (iii) territorial cohesion; (iv) social policy objectives related to the social work of their respective foundations, financial consumer protection and affordable housing; and (v) promotion of research and technological development (the “ Council of Ministers’ Authorization ”).

The Council of Ministers’ Authorization requires, at least for a period of three years from June 24, 2025, that BBVA and the Target Company maintain separate legal personality and shareholders’ equity and preserve its respective autonomy in the management of its operations with the aim of protecting the general interest concerns identified above (the “ Autonomy Condition ”). The Autonomy Condition must be materialized, at least, in the maintenance of autonomous management and decision-making in the respective entities, with a view to maximizing the value of each entity. Following such three-year period, the Spanish Secretary of State for Economy and Business Support ( Secretaría de Estado de Economía y Apoyo a la Empresa ) will evaluate the efficacy of the Autonomy Condition and the Council of Ministers will determine whether to extend the Autonomy Condition for an additional period of two years. The Council of Ministers’ Authorization also confirmed the CNMC Commitments.

The Council of Ministers’ Authorization finalized the merger control proceedings in Spain, with BBVA having the right to withdraw the Exchange Offer pursuant to the provisions of Article 26.1(c) of Royal Decree 1066/2007, as the authorization was subject to conditions. On June 30, 2025, BBVA publicly announced its decision not to withdraw the exchange offer as a result of the Council of Ministers’ Authorization. As a result, the condition requiring the obtainment of the authorization of the economic concentration resulting from completion of the Exchange Offer is considered satisfied. The specific terms of the Exchange Offer will be set out in the Spanish prospectus and the relevant U.S. offer to exchange/prospectus.

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#### Regulatory Update for Spain
The below summary includes certain updates to the information included in “Item 4. Information on the Company—Business Overview—