Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Banco Bilbao Vizcaya Argentaria, S.A.    BBVA   ES0113211835

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(BBVA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Helvetia to grow insurance presence with majority stake in Spain's Caser

share with twitter share with LinkedIn share with facebook
share via e-mail
01/24/2020 | 05:34am EST
The logo of Swiss Helvetia insurance is seen at an office building in Vienna

Swiss insurer Helvetia has agreed to buy up to 70% of Spanish insurer Caser for 780 million euros (£657 million) from Spanish banks and from French insurer Covea as it seeks to expand beyond Switzerland, it said on Friday.

ZURICH/MADRID (Reuters) - Swiss insurer Helvetia has agreed to buy up to 70% of Spanish insurer Caser for 780 million euros (£657 million) from Spanish banks and from French insurer Covea as it seeks to expand beyond Switzerland, it said on Friday.

Helvetia has reached an agreement with various shareholders to buy their equity and other shareholders have an option to sell their shares to the firm on the same conditions, which is expected to give the insurer 70% of Caser.

Holders of the remaining 30% will have strategic importance as distribution partners, Helvetia said.

Spanish banks Bankia, Liberbank and Ibercaja also said in separate statements they had agreed to sell respectively 15%, 2.23%, and 4.45% in Caser for 166 million euros, 25.7 million euros and 51 million euros.

The deal values Caser at 1.1 billion euros in total.

French insurer Covea will also divest its 20% stake, sources close to the operation, who declined to be named, said.

Spanish lenders BBVA, Caixabank, Abanca, Caixa Pollenca and Caixa Ontinyent also agreed to sell minority stakes, one of the sources said.

Ultimately, Unicaja, Liberbank and Ibercaja would keep around 10% in Caser each, the sources said.

Caser, which generated revenues of 1.639 billion euros in 2018, will immediately make a significant profit contribution, the Swiss company said.

Helvetia reported a 29.4% increase in its results after tax to 289.7 million Swiss francs ($299.43 million) for the first half of 2019. It reports full-year results on March 4.

The transaction is expected to be closed during the first half of the year after Helvetia secures regulatory approvals.

(Reporting by Silke Koltrowitz, Jesus Aguado and Inti Landauro; Editing by Michael Shields, Jan Harvey and Barbara Lewis)

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.12% 5.11 End-of-day quote.2.55%
BANKIA, S.A. -0.79% 1.6935 End-of-day quote.-10.99%
CAIXABANK, S.A. 0.11% 2.703 End-of-day quote.-3.40%
LIBERBANK, S.A. 0.25% 0.3208 End-of-day quote.-4.24%
UNICAJA BANCO, S.A. -0.21% 0.9515 End-of-day quote.-1.70%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on BANCO BILBAO VIZCAYA ARGEN
02/14BANCO BILBAO VIZCAYA ARGENTARIA S A : Two BBVA USA employees recognized by local..
AQ
02/13BANCO BILBAO VIZCAYA ARGENTARIA S A : Fixed income presentation 4Q19
PU
02/13Banks should improve governance to overcome malpractice - ECB's de Cos
RE
02/12BANCO BILBAO VIZCAYA ARGENTARIA S A : 2020 AGM Proposed Resolutions
PU
02/10BANCO BILBAO VIZCAYA ARGENTARIA S A : Final dividend calendar 2019
PU
02/10BANCO BILBAO VIZCAYA ARGENTARIA S A : BBVA Proposes Three New Board Additions in..
DJ
02/10BANCO BILBAO VIZCAYA ARGENTARIA S A : 2020 Annual General Meeting Call
PU
02/10BANCO BILBAO VIZCAYA ARGENTARIA S A : 2020 AnnualGeneral Meeting Call
PU
02/06BANCO BILBAO VIZCAYA ARGENTARIA S A : ECB's de Guindos says BBVA spying case has..
RE
02/03BANCO BILBAO VIZCAYA ARGENTARIA S A : BBVA USA reports fourth quarter and full-y..
AQ
More news
Financials (EUR)
Sales 2020 24 890 M
EBIT 2020 12 742 M
Net income 2020 4 499 M
Debt 2020 -
Yield 2020 5,27%
P/E ratio 2020 7,65x
P/E ratio 2021 7,68x
Capi. / Sales2020 1,37x
Capi. / Sales2021 1,36x
Capitalization 33 991 M
Chart BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Duration : Period :
Banco Bilbao Vizcaya Argentaria, S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BANCO BILBAO VIZCAYA ARGEN
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 5,47  €
Last Close Price 5,11  €
Spread / Highest target 41,1%
Spread / Average Target 7,04%
Spread / Lowest Target -25,5%
EPS Revisions
Managers
NameTitle
Onur Genç Chief Executive Officer
Carlos Torres Vila Executive Chairman
Jaime Saenz de Tejada Pulido CFO & Global Head-Finance & Accounting
Carlos Loring Martínez de Irujo External Director
José Maldonado Ramos External Director
Sector and Competitors