Oliu gets his anti-hostile opa shield
The president of Sabadell now has the hard core that he had longed for since the BBVA hostile takeover bid failed, a year ago. And which he had lacked for eight years, since the block of large Catalan entrepreneurs Famol was dissolved, which included Isak Andic (Mango), José Manuel Lara (Planeta), Joaquim Folch-Rusiñol (Pinturas Titán) and Oliu himself.
Sabadell bank's president, Josep Oliu, has secured a core group of shareholders, eight years after the dissolution of the Famol group of Catalan entrepreneurs. French bank BPCE, owner of Natixis, may acquire a 9.9% stake in Sabadell, joining Zurich, which holds a 4.95% stake. This combined holding could protect Sabadell from future hostile takeovers. The move comes after a failed hostile bid by BBVA last year, and amid speculation of a new Spanish government more open to corporate deals.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
