REG - Banco Santander S.A. - Agreement for the sale of stake in CACEIS

Banco Santander SAAnnouncement

20/12/2024 07:00

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RNS Number : 8436Q  Banco Santander S.A.  19 December 2024

Banco Santander, S.A. ("Banco Santander" or the "Bank"), in compliance with
the Securities Market legislation, hereby communicates the following:

INSIDE INFORMATION

 Santander has entered into an agreement with Crédit Agricole S.A. for the
 sale to Crédit Agricole S.A. of its 30.5% stake in CACEIS 1  (#_ftn1) .
 Following the envisaged transaction, Crédit Agricole S.A. will control 100%
 of the share capital of CACEIS. CACEIS is the holding company of a group of
 entities engaged in the depositary, custody and related asset servicing
 business.

 The transaction is consistent with Santander's strategy focus on proactive
 capital allocation to create shareholder value and would result upon
 completion in a positive impact of circa 10 basis points on the fully loaded
 CET1 ratio of the Santander Group. The transaction will not have a relevant
 impact either on the Group's earnings or on the earnings per share.

 Completion of the transaction is subject to customary closing conditions,
 including regulatory approvals, and it is expected to take place in 2025.

 The joint business of Santander and CACEIS engaged in the depositary, custody
 and related asset servicing business in Latin America is out of the scope of
 the transaction and will remain jointly controlled by Santander and CACEIS.

 Boadilla del Monte (Madrid), 19 December 2024

 

 

IMPORTANT INFORMATION

Not a securities offer

This document and the information it contains does not constitute an offer to
sell nor the solicitation of an offer to buy any securities.

Past performance does not indicate future outcomes

Statements about historical performance or growth rates must not be construed
as suggesting that future performance, share price or results (including
earnings per share) will necessarily be the same or higher than in a previous
period. Nothing in this document should be taken as a profit and loss
forecast.

 

 

 1  (#_ftnref1) See relevant information published on 17 April 2019 with
registration number 277195

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