Santander to sell 3.5% stake in its Polish unit for around $480 mln, bookrunner says

Erste Bank Polska SA

01/12/2025 17:52

MADRID, Dec 1 (Reuters) - Spain's Santander SAN.MC plans to sell an around 3.5% stake in its Polish subsidiary Santander Polska SPL1.WA through an accelerated bookbuild for around $480 million, one of the bookrunners said on Monday.

This would leave Santander with an around 9.7% stake in its Polish unit.

The partial divestment follows an agreement to sell a 49% stake in Santander's Polish bank for around 6.8 billion euros announced earlier in May.

A bookrunner of the placement said that Santander would sell around 3.6 million shares in Santander Polska for a range of between 481 to 486 zlotys per share.

This would represent a discount of between 5% to 6% compared to Monday's closing price of 511.6 zlotys per share.

Santander declined to comment on the price.

 (Reporting by Jesús Aguado; editing by Tommy Wilkes Reggiori and Victoria Waldersee)

 ((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))