Press Release: State aid: Commission approves restructuring aid for the sale of Spanish UNNIM Banc SAU to BBVA

The European Commission has concluded that restructuring aid granted by Spain to UNNIM Banc SAU (UNNIM) in the context of the sale of its banking activities to Banco Bilbao Vizcaya Argentaria (BBVA) is in line with EU state aid rules. The Commission found that UNNIM's restructuring plan adequately addresses the structural problems that led to the bail-out of the bank, whilst avoiding undue distortions of competition.