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

December 08, 2021 02:57 ET (07:57 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Banco Santander Mexico S... (NYSE:BSMX)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Banco Santander Mexico S... Charts.
Banco Santander Mexico S... (NYSE:BSMX)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Banco Santander Mexico S... Charts.