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Santander announces 5% rise in offer to buy remaining 10% of Brazilian unit - Finance news and analysis from Global Banking & Finance Review
Finance

Santander announces 5% rise in offer to buy remaining 10% of Brazilian unit

Published by Global Banking & Finance Review

Posted on November 12, 2026

1 min read

· Last updated: November 12, 2026

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Santander Raises Offer by 5% to Acquire Remaining 10% Stake in Brazil Unit

Details of Santander's Increased Offer

Announcement of Offer Increase

MADRID, Nov 12 (Reuters) - Spanish lender Santander on Thursday announced a 5% rise in the exchange ratio for its intended offer for the remaining 10% stake it does not already own in its Brazil unit.

Share Issuance and Financial Implications

Number of New Shares and Share Capital Impact

Assuming full acceptance of the offer, Santander said it would issue approximately 166 million new shares, equivalent to around 1.1% of its current share capital. The maximum consideration would be approximately €1.9 billion ($2.1 billion), based on Wednesday's closing market price.

Shareholder Approval Process

Santander will seek shareholders' approval for the corresponding capital increases to settle the offer at an extraordinary general shareholders' meeting expected to be held on December 15, 2026.

Exchange Rate Reference

($1 = 0.9027 euros)

Reporting Credits

(Reporting by Jesús Aguado; Editing by David Latona)

Key Takeaways

  • Offer now up 5% in exchange ratio, valuing the remaining stake at ~€1.9 billion (~$2.1 billion) based on latest share price.
  • Santander will issue ~166 million new shares—around 1.1% of its current share capital—to settle the deal if fully taken up.
  • The offer continues Santander’s strategy to simplify its structure and bolster EPS and tangible book value per share, pending approval at a December 15, 2026 extraordinary general meeting.

Frequently Asked Questions

What did Santander announce regarding its Brazil unit?
Santander announced a 5% increase in the exchange ratio for its offer to buy the remaining 10% stake of its Brazil unit.
How many new shares will Santander issue for the buyout?
Santander will issue approximately 166 million new shares if the offer is fully accepted.
What is the maximum financial consideration for the deal?
The maximum consideration is around €1.9 billion ($2.1 billion) based on recent closing market price.
When will shareholders vote on the capital increases?
A general shareholders' meeting is expected to be held on December 15, 2026, to seek approval.
What percentage of its current share capital does the new share issue represent?
The new share issue would be equivalent to about 1.1% of Santander's current share capital.

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