Miami, FL–(HISPANIC PR WIRE)–May 2, 2007–TransAtlantic Holding Corporation (THC), the bank holding company parent of Miami-based TransAtlantic Bank (TransAtlantic) and Banco de Sabadell, S.A. (Sabadell), the fourth largest banking group in Spain, announced today that Sabadell’s acquisition of TransAtlantic has been finalized.
“The closing and all regulatory approvals have taken place in record time, given that we began negotiations in December,” said Miriam Lopez, Chairman & CEO of TransAtlantic Bank. “This demonstrates both TransAtlantic Bank’s and Banco Sabadell’s solid reputation and our steadfast commitment to this union.”
This transaction marks the first acquisition for the Barcelona-based Sabadell in the United States. Sabadell expects to continue operating TransAtlantic under its present name from their seven offices serving Miami-Dade. TransAtlantic Bank will maintain as its mission an absolute commitment to integrity and sound operating practices in order to continue to be a positive force in the community.
This press release may include forward-looking statements related to the parties’ plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. None of Sabadell, THC nor TransAtlantic undertake any obligation to revise or publicly release any revision to these forward-looking statements.
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