Key Developments: Banco de Sabadell SA (SABE.MC)

SABE.MC on Madrid SE C.A.T.S.

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Latest Key Developments (Source: Significant Developments)

Banco de Sabadell formalizes sale of fully provisioned loan portfolio to Aiqon Capital
Monday, 4 Aug 2014 11:36am EDT 

Banco de Sabadell SA:Says on Aug. 4 it formalized sale of fully provisioned loan portfolio, with total volume of 554 million euros, to Aiqon Capital (Lux) Sarl.Transaction price 23.3 million euros.  Full Article

Banco de Sabadell SA to sell debt recovery unit to Lindorff-Reuters
Sunday, 27 Jul 2014 08:00pm EDT 

Banco de Sabadell SA:Spain's Banco Sabadell said on July 28 it had agreed to sell its debt recovery business to Lindorff Espana, part of Norwegian credit manager Lindorff, for 162 million euros-Reuters.Sabadell said it would make a 162 million euro capital gain from the sale.It said the debt recovery unit has also struck a deal to manage its assets for 10 years.  Full Article

Banco de Sabadell completes acquisition and integration of JGB Bank in Florida
Sunday, 13 Jul 2014 08:00pm EDT 

Banco de Sabadell SA:Says it has completed acquisition and merger of JGB Bank into Sabadell United Bank (SUB), the group's subsidiary in Florida.Transaction amounted to about $49,6 million.This transaction allows Sabadell United Bank to reinforce its position in Florida, where it has network of 27 branches which manage business volume of, about, $8 billion and serve 40,000 clients.  Full Article

Banco de Sabadell subsidiary sells 4.67 pct stake in Fluidra
Friday, 4 Jul 2014 12:29pm EDT 

Banco de Sabadell SA:Says its wholly owned subsidiary, Bansabadell Inversio Desenvolupament SA, has sold 5,259,599 shares of Fluidra, representing 4.67 percent stake.Sale was carried out through accelerated book building process among qualified investors.Sale price 3.15 euros per share.Total sale price 16,567,736.85 euros, representing profit before tax in consolidated accounts of Banco de Sabadell of about 1,800,000 euros.  Full Article

Banco de Sabadell subsidiary mandates Fidentiis to place 4.67 pct stake in Fluidra
Friday, 4 Jul 2014 11:51am EDT 

Banco de Sabadell SA:Says its wholly owned subsidiary, Bansabadell Inversio Desenvolupament SA, has mandated Fidentiis to place 5,259,599 shares of Fluidra, representing 4.67 percent stake.Sale to be carried out through accelerated book building process among qualified investors.  Full Article

S&P upgrades its long-term rating outlook on Banco de Sabadell to positive
Wednesday, 4 Jun 2014 01:49pm EDT 

Banco de Sabadell SA:Standard & Poor’s Ratings Services has upgraded its long-term rating outlook on company to positive from negative.S&P has affirmed its long and short-term credit ratings on company at BB and B, respectively.Subordinated debt rating has been changed to B from B- and preference shares rating has been changed to CCC+ from CCC.  Full Article

Banco de Sabadell completes reorganisation of its insurance business and strengthens alliance with Zurich; creates BanSabadell Mediacion
Monday, 19 May 2014 08:00pm EDT 

Banco de Sabadell SA:Reaches agreement with Zurich once again becoming bank sole partner in sale of life assurance, general insurance and pension plans in Spain.Under terms of agreement all companies in Banco Sabadell-Zurich joint venture have once again become sole suppliers of life assurance, general insurance and pension plans for the entire branch network of Banco Sabadell in Spain.Companies in Banco Sabadell-Zurich joint venture include BanSabadell Vida, BanSabadell Seguros Generales and BanSabadell Pensiones.Banco Sabadell has completed reorganisation of its insurance business, incorporating insurance business and firms inherited in bank consolidation process entailed in its acquisition of Banco CAM, BMN business in Catalonia and Aragon (Caixa Penedes), Lloyds Bank Espana and Banco Gallego.This new agreement extends and consolidates 50 percent joint venture set up by both companies in 2008.Banco Sabadell has created company BanSabadell Mediacion which, as associated partner, will act as broker for all its insurance business in Spain.Mediterraneo Vida, Banco Sabadell 100 percent life assurance company, will continue to manage its own portfolios up to maturity.  Full Article

Banco de Sabadell gives further details on FY 2013 dividend
Thursday, 27 Mar 2014 04:30pm EDT 

Banco de Sabadell SA:Resolves to allocate 40.1 million euros to dividends.To distribute dividend of 0.01 euro gross per share, and supplementary scrip dividend of 0.02 euro gross per share.To distribute 80.2 million euros in total charged to issue premium reserve.Total gross shareholder remuneration is 0.03 euro per share.Dividend to be paid after April 3.  Full Article

Fitch affirms Banco de Sabadell at BB+, outlook stable; withdraws ratings-Reuters
Wednesday, 26 Mar 2014 02:40pm EDT 

Banco de Sabadell SA:Fitch Ratings has affirmed company long-term Issuer Default Rating (IDR) at BB+ with stable outlook, short-term IDR at B and Viability Rating (VR) at bb+-Reuters.Fitch has simultaneously withdrawn all of Sabadell ratings as level of public information provided by bank on quarterly basis is insufficient to maintain rating.Fitch no longer to provide ratings or analytical coverage for Sabadell.  Full Article

Banco de Sabadell subsidiary sells its entire stake in Fersa Energias Renovables
Thursday, 6 Mar 2014 12:45pm EST 

Banco de Sabadell SA:Says on March 6 its subsidiary, Explotaciones Energeticas Sinia XXI SL, sold entire stake it held in Fersa Energias Renovables.Stake sold amounts to 3.80 percent, represented by 5,316,570 shares.Transaction price 3,726,889 euros.  Full Article

Spain's Sabadell to sell debt recovery unit to Lindorff

MADRID, July 28 - Spain's Banco Sabadell said on Monday says it had agreed to sell its debt recovery business to Lindorff Espana, part of Norwegian credit manager Lindorff, for 162 million euros ($217.6 million).

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