Sabadell considering bidding for Co-op Bank
Sabadell estudia pujar por Co-op Bank
Intel ID : 245956
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Banco Sabadell (BME:SAB), through its UK-based subsidiary TSB, may be considering participating in the bid for UK-based bank Co-op Bank, worth almost GBP 1bn, reported Expansión on 10 March 2017. According to the report, the shareholders of the UK-based entity put it on the block given they cannot independently meet the solvency requirements of the Bank of England. Co-op Bank has 105 branches in the UK and GBP 20bn in mortgages. With this acquisition, TSB would grow from five to nine million customers. However, the seller also has GBP 5bn in loans with default risk and a deficit in the pension scheme which in 2015 amounted to GBP 300m.
(content in spanish)
Banco Sabadell (BME:SAB), a través de su filial británica TSB, podría estar analizando entrar en la puja por el banco británico Co-op Bank, valorado en casi GBP 1.000m, según ha informado Expansión el 10 de marzo de 2017. Los accionistas de la entidad británica la han puesto en venta al no poder alcanzar de manera independiente los requisitos de solvencia que exige el Banco de Inglaterra. Co-op Bank cuenta con 105 sucursales en Reino Unido y GBP 20.000m en hipotecas. Con esta adquisición TSB pasaría de cinco a nueve millones de clientes. Sin embargo, la entidad en venta también cuenta con GBP 5.000m en préstamos con riesgo de impago y un déficit en el plan de pensiones que en 2015 ascendía a GBP 300m. |
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| Intel ID | 245956 | ||
| Value | EUR 1.141,94m (Approx.) | ||
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25.01.04 Consumer Finance 25 Financial Services / 25.01 Banking & Investment |
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25.01.03 Commercial, Retail & Mortgage Banking 25 Financial Services / 25.01 Banking & Investment |
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25.01.03 Commercial, Retail & Mortgage Banking 25 Financial Services / 25.01 Banking & Investment |
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Financial Advisory
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.