A Santander company logo is pictured at the company’s headquarters in Boadilla del Monte, outside Madrid, Spain, February 2, 2023. REUTERS/Violeta Santos Moura MADRID, Feb 7 (Reuters) – Santander (SAN.MC) valued its Mexican business at around 8.1 billion euros ($8.65 billion) on Tuesday with the launch of a voluntary tender offer to acquire the 3.76% of shares it does not own, taking a step towards its de-listing. Over the past few years Santander has expanded in emerging economies in search of faster growth than in Europe, where ultra-low interest rates had made banking less profitable. Spain’s biggest bank set the offer price to Santander Mexico (BSMXB.MX) shareholders at 24.52 Mexican pesos ($1.28) in cash for each Series B share in Mexico and the U.S. dollar equivalent of 122.6 pesos in cash for each American Depositary Shares (ADS) listed in New York. The offer values the stake which Santander does not already own at around 304 million euros ($325 million). Although Tuesday’s offer price was below the 26.5 Mexican pesos per share offered in October of 2021 for a 10.4% stake, Santander Mexico shares rose by 2.5% to 24.40 Mexican pesos. Spain’s Santander has to choose the highest price between […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
