Acquisition

 

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RNS Number : 3009N 
Banco Santander S.A. 
09 June 2010 
 
 
 
                                  MATERIAL FACT 
 
 
 
Banco Santander ("Santander") hereby announces that it has reached agreement 
with Bank of America to acquire the 24.9% stake held by the latter in Grupo 
Financiero Santander ("Banco Santander Mexico") for an amount of 2,500 million 
dollars. Following this transaction, Santander's holding in Banco Santander 
Mexico will amount to 99.9%. 
 
It is estimated that the transaction will have a positive impact of 1.3% on 
Santander's earnings per share from year one and a ROI of 15% from year three, 
based on market consensus estimates of Banco Santander Mexico's earnings. The 
estimated impact of the transaction on Santander's core capital is -31 basis 
points. 
 
The transaction is subject to regulatory authorisation and is expected to be 
completed in the third quarter of 2010. 
 
Banco Santander Mexico is the third largest financial institution in Mexico, 
with a market share of 14.8% in deposits and of 13.0% in loans. In 2003, Bank of 
America acquired this 24.9% stake from Santander for an amount of 1,600 million 
dollars. 
 
 
                                      Boadilla del Monte (Madrid), 9th June 2010 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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