Banc Sabadell acquires 100% of TSB shares
The Catalan bank Sabadell has completed the process of compulsory acquisition of all TSB Banking Group (TSB) shares, thereby taking ownership of 100% of this British entity’s share capital. The move completes the takeover started last spring, when TSB accepted the 1.7bn-pound offer made by Banc Sabadell. Through buying TSB, Banc Sabadell has expanded its international presence, with its percentage of foreign assets growing from 5% to 22%. TSB has 631 branches, 4.6 million customers and 8,600 employees in the United Kingdom.