Groupe BPCE acquires 7% stake in Banco Sabadell

French banking group BPCE has acquired a 7% stake in Spain’s Banco Sabadell, an investment valued at approximately €1.2 billion based on recent market prices. The transaction, described by both parties as “friendly,” includes a commitment from BPCE not to exceed a 9.99% ownership threshold.

Through this acquisition, BPCE will be represented on Sabadell’s board of directors with one director. The move is seen as a strategic step for Sabadell to strengthen its shareholder base and protect against potential hostile takeover attempts, following a previous unsuccessful bid by BBVA. BPCE joins other significant shareholders such as Blackrock and the Swiss insurer Zurich.

Both institutions intend to explore strategic business cooperation, aiming to leverage BPCE’s capabilities for Sabadell’s clients in areas such as corporate and investment banking, consumer credit, leasing, and international business. BPCE CEO Nicolas Namias stated the investment aligns with the group’s “Vision 2030” strategic plan to expand its European presence.