Finance / China
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
BBVA takes one more step into China
June 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to Corporate Financing Week please click on the trial link below.
Spanish Financial Group Banco Bilbao Vizcaya Argentaria (BBVA) said on May 3 that it will invest US$1.25bn in Chinese banking giant Citic Group, in another demonstration of the firm's strong focus on emerging markets. BBVA, Spain's second largest financial group (with a market capitalisation of US$94bn), has survived the sub-prime crisis relatively unscathed, with little exposure in the US. BBVA has already invested US$1.54bn in Citic Group, and with this latest investment the bank is positioning itself to continue its aggressive record of expansion into the hugely lucrative Chinese market.