Last checked at 7 Mar 2012 17:42
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions of the Spanish Securities Market Act, hereby proceeds by means of the present document to notify the following:
RELEVANT INFORMATION
The Management Commission of the Banking Reestructuring Fund (known as "FROB" in Spain) has accepted BBVA´s bid for the restructuring of Unnim Banc, S.A. Sociedad Unipersonal ("UNNIM BANC").
As a consequence, an agreement has been signed among the FROB, the Deposit Guarantee Fund for Credit Entities (known as "FGD" in Spain) and BBVA, by virtue of which BBVA will acquire a 100% of the shares of UNNIM BANC for the price of 1 Euro.
BBVA, the FDG, the FROB and UNNIM BANC have also signed a "Protocol of Financial Measures" for the reestructuring of UNNIM BANC, which regulates the Asset Protection Scheme through which the FGD will run with 80% of the losses undergone by a predetermined asset portfolio of UNNIM BANC, calculated once the existing provisions on those assets are applied, for a period of 10 years following the transaction.
The closing of said two agreements is subject to obtaining the relevant administrative authorizations and approvals, including the approval of the Bank of Spain, the Finance Secretary of State, the European Commission and the Competition Authorities.
Tomorrow at 8.00 (Madrid time) BBVA will present the transaction to investment analysts.
Any interested party can follow the presentation via BBVA's web site on the Internet (www.bbva.com).
A recording of the presentation will be available on the above web site, for a period of at least one month.
Madrid, March 7, 2012