20th Jun 2007 07:00
Banco Bilbao Vizcaya Argentaria SA19 June 2007 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 BBVA and "Grupo Gmp" (GMP) have reached an agreement through which BBVA willacquire, by means of a group entity, the real estate "Parque Empresarial Foresta" located in the northern development area of Madrid, where it will build newcorporate headquarters. This project will involve an investment for the BBVA Group greater than 700million euros, which includes the purchase of the plots, the construction andthe equipment of the buildings of the corporate headquarters. Both groups have executed various sale and purchase agreements by virtue ofwhich GMP acquires four buildings from BBVA, specifically those located inCastellana, 81; Goya, 14; Hortaleza-Via de los Poblados and Alcala, 16,although the sale of this last building is subject to certain administrativeclearances. In any case, BBVA will keep for the next twenty years the bankingagencies located in such buildings, as well as the corporate logos visible ontop of the building in Castellana 81. Once the above mentioned sale and purchase transactions are completed, the bankwill obtain gross capital gains of approximately 300 million euros. A press release related to the agreements reached, which will be disclosed tothe media, is attached. Madrid, June 19, 2007 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bbva Ord