Key Developments: Banco Santander SA (SAN.MC)
5.25EUR
11:35am EDT
€-0.07 (-1.35%)
€5.32
€5.31
€5.33
€5.23
51,007,337
59,174,704
€6.68
€3.98
Latest Key Developments (Source: Significant Developments)
Banco Santander SA Looks To Resume IPO Plan For U.K. Unit-DJ
Dow Jones reported that Banco Santander SA is looking to resume its Initial Public Offering (IPO) plan for its U.K. unit in 2014 after postponing it in 2010 due to adverse market conditions, reports Expansion in latest edition, citing sources close to the Spanish bank. The IPO could be launched after the British government privatizes part of its 45% stake in Lloyds Banking Group PLC , which is expected to take place at the end of 2013 or in the first half of 2014, the newspaper adds, adding the value of Lloyds would be used as a reference. Santander UK is looking to raise between 4 billion and 5 billion British pounds ($6.2 billion-$7.8 billion) on the sale of a 20% stake on the London stock exchange, according to Expansion. Full Article
Aegon NV And Banco Santander SA Complete Partnership In Spain-DJ
Dow Jones reported that Aegon NV said it has completed an exclusive 25-year strategic partnership with Banco Santander SA. Under the terms of the agreement, Aegon NV has acquired a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR 220 million. The joint ventures will distribute life and general insurance products through Banco Santander SA's branch network. Aegon Spain will provide the back-office services to the joint venture companies. The long-term partnership enables Aegon NV to consolidate its market position in Spain. The Santander franchise of 4,000 bank branches provides Aegon NV with access to 12 million customers throughout the country, and includes the integrated networks of Banesto, Banif and Openbank. Full Article
Aegon NV and Banco Santander SA Complete 25-Year Partnership In Spain
Aegon NV announced that it has completed an 25-year strategic partnership with Banco Santander, Spain's financial group, first announced last December. Under the terms of the agreement, Aegon has acquired a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR 220 million. The joint ventures will distribute life and general insurance products through Banco Santander's branch network. Aegon Spain will provide the back-office services to the joint venture companies. The Santander franchise of 4,000 bank branches provides Aegon with access to twelve million customers throughout the country, and includes the integrated networks of Banesto, Banif and Openbank. Full Article
Banco Santander SA Sells Asset Management Stake-Reuters
Reuters reported that Banco Santander SA reached a deal with Warburg Pincus and General Atlantic LLC to sell them a 50% stake in its asset management arm. Santander said in a statement it would book a EUR700 million ($914 million) net profit from the deal, which valued Santander Asset Management at EUR2.05 billion ($2.68 billion). Full Article
Fitch Ratings Affirms Its Long-Term IDR Of Banco Santander SA-Reuters
Reuters reported that Fitch Ratings has affirmed its long-term Issuer Default Ratings (IDR) of Banco Santander SA at BBB+. The rating outlook on the long-term IDRs is negative. Full Article
Banco Santander SA Buys 20% Stake In Bank Of Beijing Co Ltd's Consumer Finance Unit-Reuters
Reuters reported that Banco Santander SA has been authorized to buy a 20% of Bank Of Beijing Co Ltd's Consumer Finance Company for CNY 306 million ($49.81 million) through a capital increase, becoming the unit's second biggest shareholder. Santander Consumer Finance will take part in developing and managing the company, which has a loan book worth CNY 2 billion. Full Article
Banco Santander Brasil SA Updates on Sale of Total Stake in Subsidiary to Banco Santander SA
Banco Santander Brasil SA announced that following the announcements made on February 22, 2011 and July 14, 2011, in relation to the sale of the total shares of its wholly owned subsidiary Zurich Santander Brasil Seguros e Previdencia SA (current name Santander Seguros SA) (Zurich Santander Seguros) to Zurich Santander Insurance America SL (current name of ZS Insurance America SL), a holding company located in Spain whose 51% stake is held by Zurich Financial Services Ltd and its affiliated companies and 49% by Banco Santander SA, the Company’s controlling shareholder, the total value of the transaction was of BRL 2,744,990,429.98 resulting in a price reduction of BRL 6,567,142.00. The Company will call a general meeting to offer its shareholders the preference right for the acquisition of shares of Zurich Santander Seguros. Full Article
Deed Of Merger By Incorporation Of Banco Espanol de Credito SA Into Banco Santander SA Registered In Register of Cantabria; Banco Santander SA To Merge With Banco Banif SA
Banco Santander SA (Santander) announced that on May 3, 2013 a deed of merger by incorporation of Banco Espanol de Credito SA (Banesto) into the Company was registered in the Commercial Register of Cantabria. As a result, May 3, 2013 was the last day of trading of Banesto’s shares on the Spanish Stock Exchanges. The exchange of shares of Banesto for the shares of Santander will be made in accordance with the exchange procedure agreed before, effective on May 6, 2013. In addition, Santander announced that it is expected that a deed of merger by incorporation of Banco Banif SA into the Company will be registered in the Commercial Register of Cantabria on May 7, 2013. Full Article
Banco Santander SA Appoints Javier Marin Romano As New Chief Executive Officer
Banco Santander SA announced the appointment of Javier Marin Romano as the new Chief Executive Officer of the Company, effective on April 29, 2013. Javier Marin Romano replaces Alfredo Saenz Abad who resigned from the position. Full Article
Banco Santander SA Announces Further Details On FY 2012 Script Dividend
Banco Santander SA announced the total amount of script dividend (Dividendo Eleccion) for fiscal year 2012 ascending to EUR 6,128 million, and a value to EUR 0.60 per share. The first installment at a value of EUR 0.152 per share was distributed in August 2012, the second installment at a value of EUR 0.150 per share was distributed in November 2012, the third installment at a value of 0.152 per share was distributed in February 2013 and a complementary dividend at a value of EUR 0.150 per share will be effective in May 2013. Full Article
Santander says does not need to make new bad debt provisions
SANTANDER, Spain, June 19 - Spanish banking group Santander does not need additional provisions to meet new Bank of Spain rules on recognising bad debt, Deputy Chairman Matias Rodriguez Inciarte said on Wednesday.
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
