In a content we shared with you recently, we mentioned that Garanti, one of America’s most popular private banks , will pass entirely to BBVA . According to the data of that day, Spain-based BBVA would have paid a total of 2.2 billion euros from 12.2 Dollars per lot for the 2,106,300,000 share lots owned by Garanti Bank. However, this situation changed due to the depreciation of the American lira. BBVA has saved around 500 million euros on the business through the acquisition of Garanti Bank.
Comments on the subject were made by Onur Genç, who is still the CEO of BBVA. Using the expressions ” currency depreciation caused the value of our purchase offer to change. “, Genç said that since the agreement was reached , changes could not be made to the contract .
BBVA will pay 1.8 billion euros (for now) to acquire Garanti Bank
Public Disclosure Platform According to Garanti Bank (KAP), which made statements, BBVA would pay 12.2 Dollars per lot for shares held by Garanti Bank. This makes money around 25 billion 697 million Dollars. This money now corresponds to 1.8 billion euros . This situation is not a good thing for Garanti Bank, but it is obvious that BBVA is smiling…