González Bueno (Sabadell) assures that the result of the takeover bid “has surprised very favorably”
The CEO of Banco Sabadell, César González-Bueno, assured this Friday that the result of BBVA’s takeover bid for the Catalan entity “has surprised very favorably”, after the failure of the operation, with an acceptance of only 25.47%.
“I’m happy because it was a party at the bank,” he acknowledged in an interview on Onda Cero, reported by Servimedia. González-Bueno admitted that in Sabadell they expected the takeover bid to not prosper, although they estimated that the result would be “close to the mark”, closer to the 30% that gave the option of launching a mandatory takeover bid, and not “that much lower”, with that 25.47%. “If we subtract some arbitrators, who are the most speculative part, and we subtract David Martínez, the support has been minimal,” said González Bueno.
David Martínez is the Mexican businessman and Sabadell’s third shareholder, with 3.86%, who made explicit his support for BBVA’s takeover bid. The CEO of Sabadell joked during the interview that there would be no “retaliation” for this shareholder because “today is a day of joy.”
González-Bueno pointed out that the result of the takeover bid confirms that Sabadell is “a great project” and this produces “great satisfaction within the entity.” “The only thing I have left is the result, that 1.1% of Sabadell’s individual shareholders, who are also our clients, contributed to the first takeover bid,” he added. He also highlighted that not even with arbitrageurs, who are usually the ones who “manage to turn the tables on things”, the takeover bid has managed to prosper.
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