Company: BBVXF
Filing Date: 2025-09-05
Form Type: F-4/A
Source: 0001193125-25-196513
Chunk: 106

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-09-05
Form: F-4/A
Chunk 106
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VA may be considered to have control of Banco Sabadell sufficient for consolidation of Banco Sabadell’s financial position and results of operations under the relevant IFRS accounting standards if BBVA has the power to direct the relevant activities of Banco Sabadell (i.e., those activities that significantly affect Banco Sabadell’s returns) and has the ability to use such power to affect the amount of BBVA’s returns from its involvement with Banco Sabadell. Without a majority of the voting rights in the share capital of Banco Sabadell, BBVA’s control of Banco Sabadell would not be presumed automatically under the relevant accounting standards, and additional evidence of BBVA’s control would be required for BBVA to be able to consolidate Banco Sabadell’s financial position and results. If, on the other hand, BBVA does not obtain control of Banco Sabadell but instead maintains a significant influence over Banco Sabadell, BBVA would account for the financial position and results of operations of Banco Sabadell in the Group’s consolidated financial statements in accordance with the relevant accounting criteria based on the percentage interest held by BBVA in Banco Sabadell, pursuant to the equity method of accounting. The principal difference between these two accounting methods lies in the way that assets, liabilities, income and expenses are integrated into the relevant financial statements. Using consolidation accounting, assets, liabilities, income and expenses of BBVA and Banco Sabadell would be combined on a line-by-linebasis in the BBVA Group’s consolidated financial statements, with deductions for minority interests in Banco Sabadell. Using the equity method of accounting, BBVA’s stake in Banco Sabadell would be reflected in only one line item of the consolidated balance sheet (“Joint ventures and associates”), adjusted periodically for BBVA’s percentage interest in Banco Sabadell’s profit and other changes in the total equity of Banco Sabadell, and in one line item of the consolidated income statement (“Results of entities valued by the equity method& dividend income”). BBVA may waive the Minimum Acceptance Condition and proceed with completion of the exchange offer if the exchange offer is accepted by holders of Banco Sabadell shares representing at least 30% of the share capital of Banco Sabadell. The impacts on the pro forma financial information in a scenario in which the exchange offer is accepted by holders of Banco Sabadell shares representing only 30% of the share capital of Banco Sabadell (for purposes of this section, the “30% Acceptance Scenario”), compared to the Full