BBVA SA’s top executive expects the vast majority of institutional investors who hold shares in Banco Sabadell SA to accept his bank’s offer for its smaller rival.
“They’re gonna go, all of them” BBVA Chief Executive Officer Onur Genc said in an interview with Bloomberg News on Friday, adding that institutional investors hold about 25% to 30% of Sabadell’s shares. “We are very convinced that we’re going to be above the 50%” minimum threshold required for the bid to be successful, he said.