Santander to buy out Puerto Rico unit
MADRID - Spain's Santander said on Monday it plans to launch a bid in the United States for the remaining 9.4 percent of its Puerto Rico division Santander BanCorp which it does not own.
Spain's biggest bank will offer $12.25 for every share of its Puerto Rican unit in a deal valued at about $50 million.
The offer is expected to be launched within a month with the aim of delisting the unit in New York and from Spain's Latibex exchange. (Reporting by Judy MacInnes; Editing by David Holmes)
© Copyright Thomson Reuters 2024. All rights reserved.
Join the Discussion
Editor's pick