• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, April 16, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home News

Sabadell Entrusts Goldman Sachs With The Search For A Buyer

by News Team
27/11/2020

Sabadell entrusts Goldman Sachs with the search for a buyer for the British TSB

Spanish bank Sabadell (MC: SABE ) has given Goldman Sachs (NYSE: GS ) a mandate to sell TSB, its deficit UK business, two sources told Reuters on Friday with knowledge of the situation.

One of the sources said that the process was already underway and that the US investment bank, which had already been hired by Sabadell in July to explore various strategic options, is now in charge of the sale of TSB, acquired by the Spanish bank. in 2015.

The news comes after Sabadell and its rival BBVA (MC: BBVA ) announced on Friday that they were canceling their merger negotiations.

Sabadell said in its statement without going into detail that it will now analyze “strategic alternatives” for its international assets, including TSB.

Both Sabadell and Goldman Sachs declined to comment.

The first source did not provide further details or the planned divestment schedule for TSB.

A second source familiar with the situation said that, apart from a direct divestment, there were “more options” on the table, including a possible segregation of this business.

RelatedPosts

Changpeng Zhao Confesses His Fortune Lies Almost 100% In Digital Assets

EMA Links AstraZeneca Vaccine To Rare Cases Of Thrombi

Nissan Reindustrialization Accelerates With 17 Projects

Deposit USD Coin (USDC) on a Savings Account and Earn Interest

Load More

“Selling TSB will be complicated, as Sabadell could be perceived as a forced seller, and now Sabadell seems too small to compete in the retail sector with the main banks in Spain,” said Spanish investment firm Alantra after breaking up negotiations with the BBVA.

Like other Spanish banks, Sabadell ventured abroad to improve and diversify its income, but the TSB purchase was marred from the outset by the British bank’s significant technological problems.

Before entering formal merger negotiations with BBVA in November, Sabadell was working on an efficiency plan both in Spain, with the reduction of 1,800 jobs, and in TSB.

Sabadell expects TSB to reach profitability threshold in 2021 after losing 84 million euros in the third quarter.

Previous Post

How Government Tax Developments Affect Your Savings

Next Post

In Pharmamar Bears Exceed 1% Of The Capital

Related Posts

Changpeng Zhao Confesses His Fortune Lies Almost 100% In Digital Assets
News

Changpeng Zhao Confesses His Fortune Lies Almost 100% In Digital Assets

10/04/2021
EMA Links AstraZeneca Vaccine To Rare Cases Of Thrombi
News

EMA Links AstraZeneca Vaccine To Rare Cases Of Thrombi

10/04/2021
Nissan Reindustrialization Accelerates With 17 Projects
News

Nissan Reindustrialization Accelerates With 17 Projects

10/04/2021
Next Post
In Pharmamar Bears  Exceed 1% Of The Capital

In Pharmamar Bears Exceed 1% Of The Capital

36 Stocks In Motion During The Pre Opening

36 Stocks In Motion During The Pre Opening

Before The Opening Of Wall Street

Before The Opening Of Wall Street

Latest News

16 Best Crypto Trading Bots (Free & Paid)

16 Best Crypto Trading Bots (Free & Paid)

16/04/2021
Everything you need to know about a VIN Decoder

Everything you need to know about a VIN Decoder

16/04/2021
How to Boost Your Online Presence as a Start-up

How to Boost Your Online Presence as a Start-up

16/04/2021
How To Register A Company in the UK

The Basics of PMP Certification – A Beginner’s Manual

16/04/2021
How To Register A Company in the UK

How To Register A Company in the UK

16/04/2021
Changpeng Zhao Confesses His Fortune Lies Almost 100% In Digital Assets

Changpeng Zhao Confesses His Fortune Lies Almost 100% In Digital Assets

10/04/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.