Wednesday, October 28, 2020
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Santander Launches a Takeover Bid for 100% of Uro Property, Worth €180 Million

The bank has approached the majority shareholder, Luxembourg-based company Ziloti, and the other shareholders to offer to buy their stakes in the Socimi, which owns 700 bank branches.

Banco Santander has launched a takeover bid for the share capital that it does not control in the Socimi Uro Property, which is currently listed on the MAB.

The financial institution chaired by Ana Botín has already reached an agreement with Uro’s majority shareholder, Luxembourg-based company Ziloti Holding, to acquire the 84.66% stake that said company owns in the Socimi. The purchase of its 3.8 million shares will be completed at a price of around 40.047 euros per share, which will see Santander pay Ziloti around 152.5 million euros.

Read the full article in Spanish.

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