• Negotiations. Why would BBVA want to sell the 'Operation Chamartín' and Merlin would want to buy it?
  • Mercado.BBVA negotiates to sell the Chamartín operation

BBVA has recognized the National Securities Market Commission (CNMV) that has established talks with the Merlin Properties socimi for the possible transfer of the operation known as Operation Chamartín. These "preliminary" talks, according to the bank, are currently suspended.

"Given the latest information in the press and at the express request of the CNMV, BBVA communicates that, among the various approaches that have been produced by third parties interested in Distrito Castellana Norte, SA (hereinafter DCN), the company Merlin Properties Socimi , SA has shown its interest in the project, which has resulted in preliminary conversations that, at this time, do not continue, "BBVA explains in its relevant event to the CNMV.

"Because of the importance and uniqueness of the project, and after the recent approval by the City Council of Madrid, it is logical that financial and industrial investors show interest in it. As a majority shareholder of DCN, BBVA's priority today is to advance the process of approval of the project and guarantee its success ", concludes the entity.

And it is that Merlin, the socimi with the largest real estate portfolio in the country, has not been the only one interested in taking control of the so-called Operation Chamartín. In fact, BBVA has maintained contacts in recent months with funds such as Brokfield, or sovereign wealth funds such as Abu Dhabi and Qatar.

According to the criteria of The Trust Project

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