Banco Bilbao Vizcaya Argentaria SA to Sell BBVA USA Bancshares Inc To PNC Financial Services Group Inc M&A Call Transcript
Good morning, everyone, and welcome to this analyst webcast following the announcement of the sale of BBVA's U.S. subsidiary to PNC.
I'm Gloria Couceiro, Head of Investor Relations. And here with me today is Carlos Torres Vila, Executive Chairman of the group; Onur Genc, Chief Executive Officer; and Jaime Saenz De Tejada, BBVA Group CFO.
Carlos and Onur will do a brief presentation, and then we will move straight to the live Q&A session after that.
And now, I'll turn it over to Carlos to start with the presentation.
Thank you. Thank you, Gloria.
Good morning, everyone. Welcome. Thank you for joining the call at such short notice. But today is a very, very important day for BBVA. As you have heard already and read this morning, we announced an agreement to sell our bank in the U.S. to PNC for a cash consideration of $11.6 billion.
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