Banco Bil.Viz.Argent BVA Sale of Administradora Fondos Retiro Bancomer

  Banco Bil.Viz.Argent (BVA) - Sale of Administradora Fondos Retiro Bancomer

RNS Number : 1579S
Banco Bilbao Vizcaya Argentaria SA
27 November 2012

Banco  Bilbao  Vizcaya  Argentaria,  S.A.  (BBVA),  in  compliance  with   the 
Securities Market legislation, hereby communicates the following:


BBVA has reached today an agreement with Afore XXI Banorte, S.A. de C.V.,  for 
the sale  to  the latter  of  the total  stake  that BBVA  holds  directly  or 
indirectly in the  Mexican company  "Administradora de Fondos  para el  Retiro 
Bancomer, S.A. de C.V."

The closing  of  the  transaction  will take  place  only  after  all  Mexican 
regulatory authorizations have been obtained.

The price agreed is US$ 1,600 million, which shall be adjusted in view of  the 
company´s available excess capital  at the closing  date. BBVA estimates  that 
such adjustment could reach US$ 130 million, in which case the total price  to 
be paid  by  the purchaser  would  be US$  1,730  million, and  the  envisaged 
resulting ratio price/expected 2012 earnings would be 14.5. It is anticipated
that the closing of the  transaction will take place  in the first quarter  of 
2013and that the capital gain net  of taxes arising from the transaction  will 
amount to approximately € 800 million.



                                                     Madrid, November 27, 2012

                     This information is provided by RNS
           The company news service from the London Stock Exchange


DISFDLLLLFFXFBD -0- Nov/28/2012 07:00 GMT
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