Block Vortex

France’s BPCE has acquired a roughly 7% stake in Spain’s Banco Sabadell, the banks said on Tuesday, reviving interest in cross border consolidation in Spanish banking less than a year after Sabadell rejected a hostile takeover bid from BBVA.
BPCE bought the stake through market purchases and financial instruments and plans to remain a long term shareholder, the banks said. It also intends to seek a seat on Sabadell’s board, subject to regulatory and governance approvals.
BPCE does not plan to increase its stake beyond 9.9%, the banks said.
The two lenders will also explore cooperation in corporate and investment banking, equipment leasing, consumer finance and services for cross border clients, with discussions expected to conclude in early 2027.
The investment comes after Sabadell successfully resisted BBVA’s takeover attempt, which was ultimately withdrawn after shareholders rejected the offer. BPCE’s move gives the Spanish lender a major European banking partner without pursuing a full takeover.
BPCE, France’s second largest banking group, has operations in Portugal through novobanco and owns equipment leasing and consumer finance businesses across Europe.
Sabadell had €200 billion in assets and reported attributable net profit of €971 million in the first half of 2026.