Atom Bank subject to potential Spanish takeover bid

Ryan Bembridge

January 14, 2019

Atom Bank could be set for a takeover bid from BBVA, Spain’s second biggest mortgage lender, Sky News reports.

The Durham-based bank is said to be on the verge of appointing Citi to advice its board on options for the business.

Atom Bank raised nearly £150m from investors led by BBVA last year, with the latter owning nearly 40% of the lender’s shares.

Under the terms of the shareholder agreement the Spanish lender has the option of acquiring the rest of the shares.

Atom Bank was unavailable for comment.

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