Report of Foreign Issuer (6-k)
November 16 2016 - 2:04PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of November, 2016
Commission File Number: 001-12518
Banco
Santander, S.A.
(Exact name of registrant as specified in its charter)
Ciudad Grupo Santander
28660 Boadilla del Monte (Madrid) Spain
(Address of principal executive office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(1):
Yes
¨
No
☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes
¨
No
☒
Banco Santander, S.A.
TABLE OF CONTENTS
Item 1
MATERIAL FACT
Banco Santander, S.A. (
Santander
) communicates that it has reached an agreement with Warburg Pincus (
WP
) and General
Atlantic (
GA
) under which Santander will acquire their 50% stake in Santander Asset Management, bringing this unit back to 100% ownership of Santander Group.
As part of the transaction Santander, WP and GA have agreed to work towards the disposal of their participation in Allfunds Bank, S.A. (
Allfunds
Bank
) through a trade sale or an
initial public offering
(IPO).
Santander Asset Management has 170 bn of assets under management
and has a leading position in 11 countries in Europe and Latin America. The asset management business contributes 1.1 bn to the annual fee income of Santander Group (proforma consolidating 100% of SAM), which aims to strengthen this business
by reinforcing the range of products.
Santander Group estimates that in 2018 the transaction will be accretive in earnings per share (>1%) and the
return on invested capital (RoIC) will be above 20% (and above 25% in 2019). Santander Group also estimates that the negative impact on its capital (
core equity tier 1
) by the end of 2017 will be approximately 11 basis points. All estimates
are net of the effect resulting from the foreseeable sale of the 25.25% indirect stake of the Santander Group in Allfunds Bank.
The transaction is
subject to obtaining all required regulatory approvals.
Boadilla del Monte (Madrid), 16 November 2016
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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Banco Santander, S.A.
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Date: November 16, 2016
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By:
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/s/ José García Cantera
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Name: José García Cantera
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Title: Chief Financial Officer
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