Following the completion of the accelerated placement of ordinary shares, and after the anticipated sale of approximately 49% of Santander Bank Polska to Erste Group Bank, announced on May 5, Banco Santander will hold about 9.7% of the share capital in its Polish subsidiary.
This information was detailed in a statement sent by Banco Santander to the Spanish National Securities Market Commission, specifying that the remaining shares of Santander Bank Polska held by Banco Santander will be subject to a 90-day lock-up period, with usual exceptions.
The lock-up will also facilitate the completion of the transaction with Erste, the information noted, as reported by the EFE news agency.
Banco Santander anticipates the settlement of the placement to occur on Thursday, under standard settlement terms.
The entity, chaired by Ana Botín, announced its continued commitment to the Polish market through Santander Consumer.
Furthermore, it indicated that a strategic collaboration with Erste is planned to leverage both companies’ strengths and presence in Corporate & Investment Banking, allowing Erste access to Santander’s payment platforms.
