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An announcement from Banco Santander ( (ES:SAN) ) is now available.
Banco Santander has completed an accelerated placement of 3,576,626 ordinary shares of its subsidiary, Santander Bank Polska, representing approximately 3.5% of the bank’s existing share capital, at a price of PLN 482.0 per share. This move aligns with Banco Santander’s strategic focus on capital optimization and shareholder value creation. Following this placement and a planned sale of 49% of Santander Bank Polska to Erste Group Bank AG, Banco Santander will retain a 9.7% stake in the Polish bank. The transaction underscores Banco Santander’s commitment to the Polish market through strategic collaboration with Erste, particularly in Corporate & Investment Banking, while leveraging Santander’s payments platforms.
More about Banco Santander
Banco Santander is a leading financial institution in the banking industry, offering a wide range of financial products and services. It focuses on retail banking, corporate and investment banking, and wealth management, with a significant presence in Europe and the Americas.
Learn more about SAN stock on TipRanks’ Stock Analysis page.