The Spanish bank BBVA announced on Monday the purchase of 21.7% of the capital of the Brazilian digital bank Neon for around 263 million euros (300 million dollars at current exchange rates), with which it will control 29.7 % of the total.
The operation, communicated to the supervisor of the Spanish stock market, will be carried out through a capital increase of the entity, of British origin, and which in turn owns 100% of the shares of the Brazilian Neon Pagamentos. The purchase is expected to take place during this month of February, explains BBVA, which intends to sign an agreement together with the rest of the current shareholders that will include the protection rights of minority partners that are common in this type of operation.
The acquisition of that 21.7% of Neon, equivalent to almost half a million titles (492,692 shares), it will entail a capital consumption equivalent to about 10 basic points of “Common Equity Tier 1 (fully loaded)”, which is the highest quality capital of an entity, with all the requirements demanded by law, adds BBVA. The investment in Neon is added to those already made by BBVA in other financial digital platforms such as the Kingdom Atom Bank (United Kingdom) and Solarisbank (Germany). BBVA also recently entered the Italian market with a 100% digital offer for retail clients, based on its mobile application.
The investment in Neon is added to those already made by BBVA in other financial digital platforms such as the Kingdom Atom Bank (United Kingdom) and Solarisbank (Germany).
BBVA also recently entered the Italian market with a 100% digital offer for retail clients, based on its mobile application. The investment in Neon is added to those already made by BBVA in other financial digital platforms such as the Kingdom Atom Bank (United Kingdom) and Solarisbank (Germany). BBVA also recently entered the Italian market with a 100% digital offer for retail clients, based on its mobile application.