Santander launches offer to acquire remaining 10% as yet not owned of subsidiary in Brazil

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The bank offers a 15% premium over the reference price, with a total consideration of up to 1.908 billion euros. Reported by Renta 4Banco Santander has announced its intention to launch an offer to acquire all ordinary shares, preferred shares, units, and American Depositary Shares (ADS) of Santander Brasil that it does not yet own, representing approximately 10% of its share capital. The operation is expected to be carried out through voluntary and simultaneous public exchange offers in Brazil and the United States. Santander offers a 15% premium over the reference price, with a total consideration of up to €1.908 billion. It is expected to contribute to improving earnings per share, strengthen profit growth, and the group’s long-term organic capital generation.