{"id":58437,"date":"2017-11-28T01:27:00","date_gmt":"2017-11-28T05:21:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/english-scotiabank-submits-a-binding-offer-to-bbva-to-acquire-its-shares-in-bbva-chile\/"},"modified":"2017-11-28T02:28:02","modified_gmt":"2017-11-28T06:28:02","slug":"scotiabank-presenta-a-bbva-una-oferta-vinculante-para-adquirir-sus-acciones-de-bbva-chile","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/scotiabank-presenta-a-bbva-una-oferta-vinculante-para-adquirir-sus-acciones-de-bbva-chile\/","title":{"rendered":"Scotiabank submits a binding offer to BBVA to acquire its shares in BBVA Chile"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prntbls{\nBORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p\/>\n<p><span class=\"xn-location\">TORONTO<\/span> and <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Nov. 28, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Scotiabank announced today that it has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.&#8217;s (BBVA) shares in BBVA Chile, which BBVA is willing to accept if BBVA&#8217;s minority partner, the Said family, does not exercise its Right of First Refusal under the shareholders agreement between BBVA and the Said family. <\/p>\n<p>BBVA owns 68.19% of BBVA Chile and the Said family owns 31.62% of BBVA Chile. Scotiabank has offered to acquire BBVA&#8217;s interests in BBVA Chile, and certain subsidiaries, for approximately <span class=\"xn-money\">US$2.2 billion<\/span> (<span class=\"xn-money\">CAD$2.9 billion<\/span>).<\/p>\n<p>This transaction is in line with Scotiabank&#8217;s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank&#8217;s market share in <span class=\"xn-location\">Chile<\/span> to approximately 14%, and make Scotiabank the 3<sup>rd<\/sup> largest non-state owned bank in the country.\u00a0 If the transaction is completed, Scotiabank&#8217;s Common Equity Tier 1 capital ratio will be impacted by approximately 100 basis points. <\/p>\n<p>Pursuant to the mandatory tender offer for all the shares of BBVA Chile required under Chilean law or the Said family&#8217;s tag-along rights under the shareholders agreement of BBVA Chile, the Said family has the right to sell its shares of BBVA Chile on the same basis to Scotiabank. \u00a0Scotiabank&#8217;s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders\/sells all of its shares to Scotiabank. <\/p>\n<p>About BBVA Chile and Scotiabank Chile (<span class=\"xn-chron\">September 2017<\/span> and in Canadian dollar equivalent):<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntbls\">\n<tr>\n<td class=\"prnsbts prnrbrs prnvab prnsbbs prntar prnpl6 prnsbls prnpr6\"><\/td>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Scotiabank Chile<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>BBVA Chile<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Assets <\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$ 26 bn<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$ 29 bn<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Total Net Loans<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$ 20 bn<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">$ 19 bn<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Employees<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,700<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,000<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Branches<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">89<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">127<\/span><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>About Scotiabank<br \/><\/b>Scotiabank is\u00a0Canada&#8217;s\u00a0international bank and a leading financial services provider in\u00a0North America,\u00a0Latin America, the\u00a0Caribbean\u00a0and\u00a0Central America, and\u00a0Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of\u00a0over <span class=\"xn-money\">$906<\/span> billion\u00a0(as at\u00a0July 31, 2017), Scotiabank trades on the\u00a0Toronto\u00a0(TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit\u00a0<a target=\"_blank\" href=\"http:\/\/www.scotiabank.com\/\" rel=\"nofollow\">www.scotiabank.com<\/a>\u00a0and follow us on Twitter @ScotiabankViews.<\/p>\n<p>For media enquiries: Marcelo Gomez-Wiuckstern, Global Communications, 416-933-1344, <a target=\"_blank\" href=\"mailto:Marcelo.gomez-wiuckstern@scotiabank.com\" rel=\"nofollow\">Marcelo.gomez-wiuckstern@scotiabank.com<\/a>; Investor Relations: <span class=\"xn-person\">Adam Borgatti<\/span>, 416-866-5042, <a target=\"_blank\" href=\"mailto:adam.borgatti@scotiabank.com\" rel=\"nofollow\">adam.borgatti@scotiabank.com<\/a> <\/p>\n<p><\/p>\n<p>SOURCE  Scotiabank<\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p \/>\n<p><span class=\"xn-location\">TORONTO<\/span> and <span class=\"xn-location\">NEW YORK<\/span>, <span class=\"xn-chron\">Nov. 28, 2017<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Scotiabank announced today that it has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.&#8217;s (BBVA) shares in BBVA Chile, which BBVA is willing to accept if BBVA&#8217;s minority partner, the Said family, does not exercise its Right of First Refusal under the shareholders agreement between BBVA and the Said family. <\/p>\n<p>BBVA owns 68.19% of BBVA Chile and the Said family&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-58437","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/58437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=58437"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/58437\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=58437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=58437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=58437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}