BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO By Ed Frankl
Banco Santander SA said Wednesday that it has increased its stake in its Mexican subsidiary at the close of a tender offer.
The Spanish bank said in October that it would launch an offer to buy out Banco Santander Mexico SA for 26.50 Mexican pesos ($1.26) in cash per Santander Mexico share, and $6.25 in cash per Santander Mexico American Depositary Share.
At the expiration of the offer, Santander's shareholding in Santander Mexico increased to 96.2% from 91.6%of its share capital, the bank said.
Santander will pay out MXN5.17 billion for the tendered Santander Mexico shares and $131.5 million for the tendered ADSs.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
12-08-21 0257ET
