PNC Financial Services Group

NYSE:PNC   9:38:50 AM EDT
-0.40 (-0.28%)
Divestitures / Spin-offs, Earnings Announcements

BBVA Says Reached Deal To Sell Its U.S. Business To PNC Financial Services Group

Published: 11/16/2020 06:34 GMT
PNC Financial Services Group Inc (PNC) - Says Reached Agreement With Pnc Financial Services Group, Inc. for Sale of 100% of Its Subsidiary Bbva USA Bancshares.
Price of Transaction Amounts to About $11.60 Billion (equivalent to About 9.70 Billion Euros), Will Be Fully Paid in Cash.
Expects Transaction Would Result in Positive Impact on Bbva Common Equity Tier 1 (fully Loaded) Ratio of About 300 Basis Points and Positive Results (net of Taxes) of About 580 Million Euros.
Says Bbva USA Bancshares Owns All Capital Stock of the Bank, Bbva USA, As Well As Other Companies of Bbva Group in U.S. With Activities Related to This Banking Business.
It is Estimated That Closing of Transaction Would Take Place in Mid 2021.
Revenue is expected to be $4.13 Billion
Adjusted EPS is expected to be $2.54

Next Quarter Revenue Guidance is expected to be $4.03 Billion
Next Quarter EPS Guidance is expected to be $1.94

More details on our Analysts Page.