José Ballester: "The time has come for Sabadell shareholders to decide."

Following the approval of BBVA's takeover bid for Banco Sabadell, the time has come for shareholders to decide. Why is it interesting for them to participate in the offer?

Because it's a very attractive offer for them and a unique opportunity to join a leading European project. There are several reasons: the offer provides the best valuation for Sabadell shareholders in more than a decade, given the stock price is at its highest level. Furthermore, the current offer is better than that of a year ago, due to the 43% increase in value thanks to the positive performance of BBVA shares. And according to analysts, this trend will only improve, as they see upside potential for BBVA shares of up to +8%, while they expect Sabadell shares to correct downwards.

What other advantages would you highlight from the operation?

First, I would highlight that shareholders will receive a much higher premium than in other similar European banking transactions of the last two years, around 30 percentage points above the average. Added to this are estimated synergies of €900 million annually after the merger. Another key aspect is that the transaction will generate significant value for Sabadell shareholders, who, after the merger, we estimate will receive 25% more earnings per share than they would if the entity were to remain independent.

And, above all, I want to emphasize that this project represents a firm and decisive commitment by BBVA to Catalonia.

How can you join the offer, the shareholders?

The acceptance period began on September 8 and will run through October 7. During this period, shareholders wishing to participate in the offer can do so in several ways.

Easily submit your declaration of acceptance, with the help of a manager and free of charge, whether or not you are a customer, at any BBVA branch or by calling +34 800 080 032 (retail investors) or +34 911 859 673.

Or submit your declaration of acceptance in writing to participate in the offer to the entity participating in Iberclear where your Banco Sabadell shares are deposited, either in person, by electronic means or by any other means accepted by the depositary entities. And if shareholders have questions, they can attend the information sessions BBVA has organized in Barcelona, ​​Sabadell, Terrassa, Girona, and Lleida. The first will be tomorrow, Monday the 15th, at 6:00 p.m. at BBVA's headquarters in Barcelona. To attend, simply register at BBVA's corporate websiteor call 800 080 032.

Several information meetings will be held in Catalonia on the exchange process (details in www.bbva.com).