April 12, 2019 / 5:26 AM / 2 months ago

Santander launches offer to buy up to 25 pct of Mexican unit in an all-share deal

MADRID/SANTANDER, April 12 (Reuters) - Santander on Friday announced an offer to buy a minority stake of up to 25 percent it does not own in its Mexican unit, Santander Mexico, for around 2.6 billion euros ($2.9 billion) in all-share transaction.

The Spanish lender said it would finance the deal issuing up to 572 million of new shares equivalent to up to 3.5 percent of its capital, offering 0.337 shares for 1 share of Santander Mexico.

The new issuance is worth 2.6 billion euros based on Thursday’s close. ($1 = 0.8859 euros) (Reporting by Jesús Aguado, editing by Jose Elias Rodriguez)

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