Thu. Apr 25th, 2019

Santander will offer some 2,600 million for 25% of its subsidiary in Mexico

Santander will offer some 2,600 million for 25% of its subsidiary in Mexico



Banco Santander will offer some 2,600 million euros in new shares of the group to take over 25% of its subsidiary in Mexico that it does not own and go on to control the entity in its entirety, as announced on Friday.

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The Board of Directors of the entity has decided to launch an offer to acquire all the shares of Santander Mexico that are not owned by it, with the delivery of a maximum of 527 million shares of the group, valued at 2,585 million taking into account the prices of the yesterday's close and the peso-euro exchange rate.

The offer is a sample of Santander's commitment to Mexico, which offers the shareholders of its subsidiary the opportunity to exchange its shares with a premium of 14% - it rises to 22% with the average of the last month - or continue as minority interests .

The group chaired by Ana Botín reveals in a relevant event sent to the CNMV that it will buy all the shares of those who accept the offer and assures that it does not intend to exclude the subsidiary from the Mexican stock exchange or the New York stock exchange.

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