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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sovgem | LSE:SOV | London | Ordinary Share | GB00B03XLZ73 | ORD 0.001P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 16.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
Spain's Santander SA (STD) is seeking to divest some $10 billion in risk-weighted assets held by Sovereign Bancorp Inc. (SOV) and plans writedowns of about $2 billion at the U.S.-based lender if the Spanish banking giant completes its takeover, Santander Chairman Emilio Botin said Monday.
Botin told shareholders at an extraordinary meeting to approve Santander's share issue to buy the 75% of Sovereign it doesn't already own that the U.S. bank is expected to contribute $750 million in profits by 2011.
Botin said the planned asset divestiture and writedowns at Sovereign seek to put the bank's risk management policies closer in line with those of Santander.
Company Web site: http://www.gruposantander.com
-By Santiago Perez, Dow Jones Newswires; 34 91 395 8119; santiago.perez@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.
1 Year Sovgem Chart |
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