Company: BBVXF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003393
Chunk: 89

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 89
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VA cannot guarantee that some or all of the expected benefits of the transaction, including expected cost and financing synergies, will be achieved. In addition, if
the Exchange Offer were to be completed but BBVA were unable to complete the Merger subsequently, this could impede the integration of BBVA’s operations with those of the Target Company and thereby make it more difficult to achieve the costs
savings and other operating efficiencies envisaged. If the Merger were not consummated for any reason, BBVA believes that it is unlikely to achieve the full cost savings and other operating efficiencies or to realize the revenue and earnings growth
that might otherwise be possible. Additionally, such cost savings and other operating efficiencies and revenue and earnings growth may be realized more slowly. However, if the Merger were not consummated, BBVA believes that it will be able to
capture the majority of the cost synergies that would be realized if the Merger were consummated because BBVA will still be able to centralize certain processes of the Target Company within BBVA and to operate both banks from a joint IT platform
with multi-bank functionality for all products, services and systems.

Moreover, acquisitions are inherently risky because of the
difficulties that may arise in integrating people, operations and technologies. There can be no assurance that any of the businesses the BBVA Group acquires can be successfully integrated or that they will perform well once integrated. In addition,
if completed, the BBVA Group’s results of operations could be adversely affected by acquisition- or divestiture-related charges and contingencies. The BBVA Group may also be subject to litigation in connection with, or as a result of, the
Exchange Offer or other acquisitions or divestitures, including claims from terminated employees, customers or third parties. In the case of an acquisition, the BBVA Group may be liable for potential or existing litigation and claims related to an
acquired business, including because either the BBVA Group is not indemnified for such claims or the indemnification is insufficient. Further, in the case of a divestiture, the BBVA Group may be required to indemnify the buyer in respect of similar
or other matters, including claims against the divested entity or business.

In the case of an acquisition, even though the BBVA Group
reviews the companies it plans to acquire, it is often not possible for these reviews to be complete in all respects, and there may be risks associated with unforeseen events or liabilities relating to the acquired assets or