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Santander Brasil plans to buy back 1 pct of outstanding shares
November 3, 2015 / 9:42 PM / in 2 years

Santander Brasil plans to buy back 1 pct of outstanding shares

SAO PAULO, Nov 3 (Reuters) - Banco Santander Brasil SA, the largest foreign lender operating in Brazil, could spend as much as 581 million reais ($155 million) buying back as much as 1 percent of outstanding shares from minority investors.

In a securities filing late on Tuesday, Santander Brasil said the program will be effective for the year ending on Nov. 5, 2016 and involve the repurchase of as many as 39.39 million units, which are a blend of Santander Brasil's common and preferred stock. (Reporting by Guillermo Parra-Bernal; Editing by Meredith Mazzilli)

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