logo
Plus   Neg
Share
Email

Banco Santander Intends To Fully Acquire Santander Mexico - Quick Facts

Banco Santander, S.A. (BNC.L,BSBR,SAN) announced it intends to make an offer to acquire all shares of Santander Mexico, not already held by the Santander Group, representing up to approximately 25% of Santander Mexico's share capital. The exchange offer is expected to be launched and settled in the second half of the year. Shareholders who accept the offer at the expected consideration would receive 0.337 newly issued shares of Banco Santander for every share of Santander Mexico and 1.685 American Depositary Shares of Banco Santander for every ADS of Santander Mexico.

If all shares held by minority shareholders were tendered in the offer, Banco Santander would have to issue approximately 572 million shares at the currently expected consideration, which represents 3.5% of Banco Santander's current share capital. The Group noted that the offer will be voluntary and, therefore, minority shareholders of Santander Mexico may choose whether or not to participate in the transaction.

Banco Santander does not currently intend to seek the delisting of Santander Mexico from either the Mexican Stock Exchange or the NYSE.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The CEO of German engineering giant Siemens AG criticized U.S. President Donald Trump as becoming the "face of racism and exclusion" following his alleged racist comments targeting four progressive Democratic Congresswomen recently. "It depresses me that the most important political office of the world will be the face of racism and exclusion," Joe Kaeser said in a Twitter post in German. Volvo Cars issued a recall for 507,000 vehicles worldwide, citing a risk of fire due to a faulty engine component. The Swedish automaker reportedly said it has received reports of a small number of cars catching fire, but no one has been injured. The recall could affect certain vehicles produced during the period from 2014 to 2019 and having two-liter, four-cylinder diesel engines. Auction house Sotheby's said on the 50th anniversary of the Apollo 11 lunar landing, it has auctioned the three original videotape recordings depicting the event for $1.82 million in New York. The price is more than 8,000 times the price paid for the tapes by then-NASA intern Gary George at a government surplus auction in 1976. Apollo 11 was the spaceflight that first landed humans on the moon.
Follow RTT