| Ticker | Price | Dividend | 52-week Performance | MarketCap |
|---|---|---|---|---|
BBVA |
9.44 (2/4/12) | 12mth: $0.64 Yield: 6.75% | Range: $7.02-$13.01 Return from Low: +34.47% | $44.65 Bil |
| Overview | BBVA @Marketwatch | BBVA @Bloomberg | BBVA @TheStreet | BBVA @Google | BBVA @Yahoo |
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BBVA agrees to $5.8 bil Turkish bank deal
The Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) announced Tuesday it would acquire a 24.9% stake in Garanti Bankasi, a top Turkish bank.
BBVA will pay $5.84 billion for the stake, a 10% discount to last week’s average closing price. It will launch a $6.94 billion capital increase to finance the deal
I view this as a positive. BBVA is entering high-growth Turkish market and it complements the Latin American exposure. BBVA is becoming the way to invest in emerging market financials.