Brief: Erste Group Acquires 49% Controlling Stake In Santander Bank Polska And 50% In Santander Tfi

Erste Bank AG

05/05/2025 07:36

May 5 (Reuters) - ERSTE GROUP BANK AG ERST.VI:

INVESTS INTO CEE GROWTH, ACQUIRES 49% CONTROLLING STAKE IN SANTANDER BANK POLSKA AND 50% IN SANTANDER TFI

FULL CASH CONSIDERATION FOR PLN 584 PER SHARE (APPROX. EUR 6.8BN)

WILL FUND ACQUISITION EXCLUSIVELY FROM INTERNAL RESOURCES, SUPPORTED BY CANCELLATION OF PLANNED EUR 700M SHARE BUYBACK

BANCO SANTANDER SA ACQUIRES 60% IN SANTANDER CONSUMER BANK FROM SANTANDER BANK POLSKA PRIOR TO COMPLETION OF ACQUISITION BY ERSTE GROUP

ACQUIRES 50% IN ASSET MANAGEMENT FIRM SANTANDER TFI FOR AN APPROX. EUR 0.2BN CASH CONSIDERATION

AGREEMENT INCLUDES AN INDEMNITY FOR MAJORITY OF ERSTE GROUP'S SHARE OF POTENTIAL CHF PROVISIONS BEYOND LEVELS EXPECTED IN BUSINESS PLAN

DIVIDEND FOR BUSINESS YEAR OF 2024 REMAINS UNCHANGED AT EUR 3 PER SHARE

Source text: ID:nPexLFQtWa

Further company coverage: ERST.VI

 (Gdansk Newsroom)

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