Santander to acquire TSB Banking Group from Banco de Sabadell for £2.65bn.

Santander, a Spanish multinational commercial bank and financial services company, agreed to acquire TSB Banking Group, a provider of financial products and services, from Banco de Sabadell, a commercial banking services provider, for £2.65bn. "The acquisition of TSB represents a continuing strategic commitment to our customers in the UK, offering a compelling opportunity that is financially attractive to our shareholders and aligned with Santander’s long-term objectives. It strengthens our franchise in a core market through the acquisition of a low-risk and complementary business that adds to our diversification," Ana Botín, Banco Santander Executive Chair.