Company: BBVXF
Filing Date: 2025-02-27
Form Type: F-4/A
Source: 0001193125-25-037317
Chunk: 54

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-27
Form: F-4/A
Chunk 54
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 (ii) if such a referral is made, until the Council of Ministers issues a decision or a subsequent one-month period lapses without a decision from the Council of Ministers. If the economic concentration resulting from completion of the exchange offer is approved subject to conditions, including remedies or commitments proposed by BBVA to address any competition concerns identified by the CNMC, BBVA may, at its own discretion, waive the related offer condition or withdraw the exchange offer. BBVA will promptly evaluate the expected consequences of any such conditions to determine whether to waive the related offer condition or withdraw the exchange offer, and publicly announce its decision. BBVA is unable to predict the cost, scope or impact of the actions that may be required by the CNMC and/or the Council of Ministers, as applicable, to obtain their authorization with respect to the economic concentration resulting from completion of the exchange offer. Any such conditions on the authorization could be material. Fulfilling the conditions imposed by the CNMC and/or the Council of Ministers, as applicable, may materially adversely affect BBVA’s and Banco Sabadell’s business, may delay or prevent completion of the intended merger or impose additional costs on or limit the revenues of the combined group following consummation of the merger. Furthermore, as a result of fulfilling any such conditions, BBVA may be unable to realize all or part of the expected synergies from the exchange offer, including expected cost savings. Any of the foregoing could adversely affect the price of the Banco Sabadell shares and BBVA shares. Completion of the exchange offer is not conditioned on the obtainment of certain regulatory approvals and authorizations; however, if such approvals and authorizations are not obtained, and the exchange offer is completed, the business, financial condition and results of operations of BBVA and Banco Sabadell may be adversely affected. According to the information available to BBVA, Banco Sabadell has control or significant shareholdings in regulated entities both in Spain and in other jurisdictions. The acquisition by BBVA of control of Banco Sabadell as a result of the exchange offer will involve the indirect acquisition of control or significant shareholdings in such regulated subsidiaries or affiliates of Banco Sabadell, which may require, in accordance with the applicable legislation in each case, obtaining the authorization or non-oppositionof the competent regulatory supervisory bodies in Spain or in jurisdictions other than Spain, as applicable. As a result, according to the information available to BBVA, the authorization or non-oppositionwith respect to the indirect acquisition of control or significant share