Europe · Business news · Corporate · 06 Oct 2026
EU Financials
BPCE, the French mutual banking group that owns Natixis, and Spain's Banco Sabadell jointly announced that BPCE has built a stake of about 7% in Sabadell through market purchases and financial instruments. Both call the move friendly. BPCE says it does not intend to go above 9.9% and will seek one seat on Sabadell's board, which needs approval from Spanish and European supervisors. The two banks will explore cooperation in corporate and investment banking, equipment leasing, consumer credit and services for cross-border clients, with talks due to conclude in early 2027.
Sabadell fought off a hostile bid from BBVA less than a year ago; a large, declared long-term shareholder capped below 10% gives its standalone plan a more stable register, as chairman Josep Oliu put it, without a takeover premium for other holders. For BPCE, which is unlisted, it is a second step into Iberia inside its Vision 2030 plan. The commercial content is still to be negotiated, so the near-term effect on either bank's earnings is small. For listed Spanish and French lenders it is another sign that cross-border links in euro-zone banking are being built through minority stakes and partnerships, not full mergers.
Reported by BPCE (GlobeNewswire) — “BPCE and Banco Sabadell announce BPCE's friendly acquisition of a participation in Banco Sabadell and their intention to explore strategic cooperation” ↗ on 06 Oct 2026.
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