By Nina Kienle
Banco Santander said it is selling part of its stake in its Polish subsidiary for $473.1 million, after its decision to divest around half of Santander Bank Polska to Erste Group earlier this year.
The Spanish group said Tuesday that it completed the placement of 3.58 million ordinary shares, representing around 3.5% of Santander Bank Polska's share capital, at 482.0 Polish zloty ($132.27) a share.
As a result of the placement and the sale of around 49% of Santander Bank Polska to Erste Group, announced earlier this year, the group will now hold around 9.7% in the subsidiary, it said.
In March, Austrian bank Erste Group said it would buy the Poland-based assets from the group for about $7.91 billion.
The settlement of the placement is expected to occur on Thursday, while the remaining shares held by Santander are subject to a 90-day lockup period, it added.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
December 02, 2025 01:59 ET (06:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.