Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 105

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 105
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 to €5,226 million. The actual cost will vary depending on the trading price of BBVA shares upon the settlement of the Exchange Offer. The pro forma adjustments included in the combined unaudited condensed consolidated pro forma balance sheet reflect a capital increase of €266 million, which amount corresponds to the par value of the new BBVA shares to be issued, and an increase in share premium in the amount of €4,960 million, which represents the difference between such trading price and the par value of the BBVA shares to be issued. These adjustments have been recorded under shareholders’ funds (share capital and share premium) in the combined unaudited condensed consolidated pro forma balance sheet. The pro forma adjustments also include the elimination of the Target Company’s net equity attributable to the Target Company as of June 30, 2024 in an amount of €13,928 million (after deducting the dividend paid on October 1, 2024 by the Target Company for an amount of €435 million corresponding to €0.08 multiplied by 5,440 million Target Company shares) (affecting shareholders’ funds and accumulated other comprehensive income (loss)) and the recognition of minority interests equivalent to a 49.99% stake of the Target Company for €5,560 million. Based on financial information as of and for the six months ended June 30, 2024, and taking into account the pro forma adjustments described in this section “ —Unaudited Pro Forma Condensed Financial Information”, the difference between the consideration offered and total equity as of June 30, 2024 would provisionally result in negative goodwill (badwill) of €336 million reflected in the combined unaudited condensed consolidated pro forma income statement and as shown in the below table:

|                                                         |     | June 30, 2024 |        |   |
|:--------------------------------------------------------|:----|:--------------|-------:|:--|
|                                                         |     | -€ million    |        |   |
| Estimated transaction cost                              |     |               |  5,226 |   |
| Minority interest recognition                           |     |               |  5,560 |   |
| Estimated fair value of assets and liabilities acquired |     |               | 11,122 |   |
| Net equity attributable to the Target Company           |     |               | 13,928 |   |
| Estimated adjustments to fair value                     |     |               | (2,806 | ) |
| Resulting negative goodwill (badwill