Santander: buys out Santander Mexico's minority shareholders
(CercleFinance.com) - Santander has announced its intention to offer to buy out the minority shareholders of Santander México at a premium, an acquisition that would therefore involve 8.
3% of the capital and would mean a total consideration of 550 million euros.
The Spanish banking group explains that this transaction, which is in line with its strategy to deploy capital in high-growth markets, will increase its growth profile, as well as its ability to generate capital.
The transaction is expected to close in the second or third quarter of 2021. The start of the offer and the offer itself will be subject to customary conditions, as well as the approval for delisting of Santander México shares from the Mexican Stock Exchange.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
3% of the capital and would mean a total consideration of 550 million euros.
The Spanish banking group explains that this transaction, which is in line with its strategy to deploy capital in high-growth markets, will increase its growth profile, as well as its ability to generate capital.
The transaction is expected to close in the second or third quarter of 2021. The start of the offer and the offer itself will be subject to customary conditions, as well as the approval for delisting of Santander México shares from the Mexican Stock Exchange.
Copyright (c) 2021 CercleFinance.com. All rights reserved.