Santander to acquire a 25% stake in Santander Mexico for €2.6bn.

Banco Santander, a Spanish multinational commercial bank and financial services company, is to acquire a 25% stake in its Mexican subsidiary Santander Mexico for €2.6bn. According to the terms of the transaction, tendering shareholders of the Group’s subsidiary in Mexico will receive 0.337 new Banco Santander shares for each Santander Mexico share or 1.685 new Banco Santander ADSs for every Santander Mexico ADS, which implies a premium of 14%. Ana Botín, Banco Santander executive chairman, said: We believe in Mexico, in the potential of its financial sector and in Santander Mexico which is one of the leading banks in the country today”.