13th Jun 2006 07:00
Banco Bilbao Vizcaya Argentaria SA12 June 2006 Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), pursuant to the provisions ofarticle 82 of the Spanish Securities Market Act, proceeds by means of thepresent document to notify the following: RELEVANT EVENT Additionally to the disclosed agreement with Texas Regional Bancshares Inc, BBVAhas reached today an agreement for the acquisition of another USA banking groupquoted on the Nasdaq, State National Bancshares Inc., also domiciled and withits principal activity in Texas. The acquisition price agreed with the Boards ofDirectors of the target is $38.50 per share, which amounts to a total price ofapproximately $480 million, which shall also be fully paid with internalresources. The acquisition will take place through a reverse subsidiary merger. The mergerwill only become effective, as provided by the applicable legislation, when 2/3of the capital represented in the general shareholders meetings of the targetedentity approve the merger and, as is customary in these types of transactions,the necessary administrative authorizations have been obtained. Tomorrow, at 9.30 a.m. (Madrid time) the transaction shall be presented toanalysts and investors. There will be a live webcast of the presentation whichmay be accessed from BBVA's corporate site (www.bbva.com), and which will beavailable for replay at BBVA's corporate web during at least the followingmonth. Madrid, June 12, 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bbva Ord