Banco Santander to spin-off GetNet.

Banco Santander is set to spin-off GetNet, its merchant payment business. Following the potential spin-off, Santander Brasil’s current shareholders would become Getnet's direct shareholders, on a pro rata basis, based on the same percentages of shareholding that they hold in Santander Brasil. Santander Group currently owns 89.51% of Santander Brasil, with the remaining shares held by minority shareholders.