Santander plans bid for outstanding Brazil unit shares
Santander plans bid for outstanding Brazil unit shares
Thu, July 30, 2026 at 10:50 PM UTC
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SAO PAULO, July 30 (Reuters) - Santander said on Thursday it intends to launch an offer to acquire the remaining shares it does not already own in its Brazilian unit, through a share swap.
The Spanish bank, which owns some 90% of its Brazilian subsidiary, said in a statement the offer "will be voluntary, does not seek the delisting of Santander Brasil and is not subject to a minimum acceptance condition."
Santander is offering Santander Brasil's shareholders a 15% premium over Thursday's closing price in a transaction valued at up to 1.9 billion euros
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The transaction is expected to "strengthen the group's long-term earnings growth and organic capital generation," while having a neutral impact on capital ratio, the Spanish bank added.
If all minority shares are tendered, the Spanish parent will issue about 156 million new shares, equivalent to about 1.1% of its current share capital, it said.
($1 = 0.8678 euros)
(Reporting by Andre Romani in Sao Paulo and Abu Sultan in Bengaluru; Editing by Sahal Muhammed and Natalia Siniawski)
Source: “AOL Money”
