BBVA To Sell 29.68% In Citic International Financial For About EUR 845 Mln

(RTTNews) - Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has agreed to sell its participation of 29.68% in Citic International Financial Holdings Ltd. or CIFH, to China CITIC Bank Corporation Ltd. or CNCB. CIFH is a non-listed division of CNCB domiciled in Hong Kong. CNCB would thereafter own a 100% stake in CIFH. The selling price is HK$8.16 billion, equivalent to about 845 million euros. The transaction closure is subject to the relevant regulatory approvals. The anticipated impact on the consolidated financial statements of the BBVA Group would be a negative impact on the P&L of some 25 million euros. The sale would generate a positive impact on the Common Equity Tier 1 fully loaded ratio of some 20 bp, equivalent to a capital generation of over 700 million euros.