M&A Deal Summary

PNC Acquires BBVA USA Bancshares

On November 16, 2020, PNC acquired financial services company BBVA USA Bancshares from Banco Bilbao Vizcaya Argentaria for 11.6B USD

Acquisition Highlights
  • This is PNC’s 11th transaction in the Financial Services sector.
  • This is PNC’s largest (disclosed) transaction.
  • This is PNC’s 15th transaction in the United States.
  • This is PNC’s 1st transaction in Texas.

M&A Deal Summary
Date 2020-11-16
Target BBVA USA Bancshares
Sector Financial Services
Buyer(s) PNC
Sellers(s) Banco Bilbao Vizcaya Argentaria
Deal Type Divestiture
Deal Value 11.6B USD

Target

BBVA USA Bancshares

Houston, Texas, United States
BBVA USA Bancshares, with $104 billion in assets and headquartered in Houston, Texas, provides commercial and retail banking services through its banking subsidiary BBVA USA and operates 637 branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico.

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Buyer(S) 1

Buyer

PNC

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1852
Sector Financial Services
Employees53,932
Revenue 21.5B USD (2023)
DESCRIPTION
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.
PNC's corporate headquarters in downtown Pittsburgh, Pennsylvania.

PNC is a diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. PNC was formed in 1922 and is based in Pittsburgh, Pennsylvania. PNC was founded in 1852 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 15 of 17
Sector (Financial Services) 11 of 11
Type (Divestiture) 3 of 3
State (Texas) 1 of 1
Country (United States) 15 of 17
Year (2020) 1 of 1
Size (of disclosed) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-01 The PNC Financial Services Group - Franchise Finance Business

Pittsburgh, Pennsylvania, United States

The PNC Financial Services Grou's Franchise Finance Business loans to franchisees operating in the quick-service restaurant (QSR) and other industries.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-27 Tempus Technologies

Auburn, Indiana, United States

Tempus Technologies, Inc. is a payment gateway provider that delivers secure and innovative payment-processing solutions for businesses of all sizes. Tempus Technologies was founded in 1987 and is based in Auburn, Indiana.

Buy -

Seller(S) 1

SELLER

Banco Bilbao Vizcaya Argentaria

Bilbao, Spain
Category Company
Founded 1857
Sector Financial Services
Employees121,563
Revenue 33.4B EUR (2023)
DESCRIPTION

Banco Bilbao Vizcaya Argentaria is a global financial group that operates a customer-focused retail business model, offering clients a comprehensive range of financial and non-financial products and services around the world. Banco Bilbao Vizcaya Argentaria was founded in 1857 and is based in Bilbao, Spain.

DEAL STATS #
Overall 3 of 3
Sector (Financial Services) 1 of 1
Type (Divestiture) 3 of 3
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-15 Divarian

Madrid, Spain

Divarian is an owner and operator of a real estate assets. Divarian is based in Madrid, Spain.

Sell -
Mergr

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