Investor David Martinez Trims Stake in Banco Sabadell

Regulatory filings reviewed Tuesday indicate that Martinez, once a central figure in the bank's shareholder base, now retains a 1.937% holding. Based on Monday’s closing price, this remaining interest is valued at approximately €300 million. Neither the specific transaction price nor the identity of the acquiring parties has been made public.

The divestment marks a shift for Martinez, who previously emerged as the most prominent individual shareholder willing to support BBVA’s €17 billion acquisition attempt. While Martinez signaled his readiness to accept the hostile offer, the broader Sabadell board successfully urged shareholders to reject the bid, maintaining that the proposal fundamentally undervalued the institution.