Mergers & Acquisitions ·
Banco Santander announced an intention to launch a voluntary exchange offer to acquire the remaining 10% of Santander…
SANBanco Santander, S.A.
Banco Santander announced an intention to launch a voluntary exchange offer to acquire the remaining 10% of Santander Brazil shares it does not already own. The transaction involves issuing newly issued Banco Santander shares representing up to 1.1% of its current share capital, with a maximum total consideration of €1,908 million. Shareholders will receive 0.4056 new Banco Santander shares for each Santander Brazil unit or ADS, and 0.2028 shares for each common or preferred share. The offer provides a 15% premium over the reference price and is not subject to minimum acceptance conditions. Expected to be capital neutral, the deal aims to support per-share returns and strengthen long-term earnings growth. Banco Santander operates in the global banking and financial services industry.