Banco Santander S.A. Agreement with AEGON (3827T)
July 03 2018 - 2:18AM
UK Regulatory
TIDMBNC
RNS Number : 3827T
Banco Santander S.A.
03 July 2018
MATERIAL FACT
Banco Santander, S.A. ("Banco Santander") informs that it has
reached an agreement with the Aegon Group whereby such group will
be the future insurance partner of Banco Santander in Spain in the
businesses of life-risk and certain lines of general insurance,
after the integration of Banco Popular Español, S.A. ("Banco
Popular") into Banco Santander (the "Agreement with Aegon").
The Agreement with Aegon has been signed as a result of a
process in which various insurance groups have participated. The
final terms and scope under which the Agreement with Aegon will be
implemented are subject to several conditions and to the process of
termination of the alliance between Banco Popular and the Allianz
Group in Spain. Therefore, it is not possible to determine at this
stage what will be the result of such transactions. This
notwithstanding, Banco Santander expects that their combined impact
on the CET1 fully loaded capital and results of Banco Santander
Group will not be material.
Boadilla del Monte (Madrid), 3 July 2018
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END
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