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Santander to carry out 7 bln euros capital raise to buy Popular
June 7, 2017 / 6:46 AM / 3 months ago

Santander to carry out 7 bln euros capital raise to buy Popular

MADRID, June 7 (Reuters) - Spain’s leading bank Santander on Wednesday said it would carry out a capital increase of around 7 billion euros ($7.89 billion) to buy out troubled Spanish competitor Banco Popular.

Santander said it maintained its financial objectives for 2017 and 2018 and the deal would accelerate profit generation from 2019 and generate annual synergies of 500 million euros from 2020 onwards. ($1 = 0.8872 euros) (Reporting by Sonya Dowsett and Andres Gonzalez; Editing by Julien Toyer)

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