Agreement for the sale of stake in CACEIS

Banco Santander S.A.

19 December 2024

 

Banco Santander, S.A. ("Banco Santander" or the "Bank"), in compliance with the Securities Market legislation, hereby communicates the following:

INSIDE INFORMATION

Santander has entered into an agreement with Crédit Agricole S.A. for the sale to Crédit Agricole S.A. of its 30.5% stake in CACEIS[1]. Following the envisaged transaction, Crédit Agricole S.A. will control 100% of the share capital of CACEIS. CACEIS is the holding company of a group of entities engaged in the depositary, custody and related asset servicing business. The transaction is consistent with Santander's strategy focus on proactive capital allocation to create shareholder value and would result upon completion in a positive impact of circa 10 basis points on the fully loaded CET1 ratio of the Santander Group. The transaction will not have a relevant impact either on the Group's earnings or on the earnings per share. Completion of the transaction is subject to customary closing conditions, including regulatory approvals, and it is expected to take place in 2025. The joint business of Santander and CACEIS engaged in the depositary, custody and related asset servicing business in Latin America is out of the scope of the transaction and will remain jointly controlled by Santander and CACEIS. Boadilla del Monte (Madrid), 19 December 2024

IMPORTANT INFORMATION

Not a securities offer

This document and the information it contains does not constitute an offer to sell nor the solicitation of an offer to buy any securities.

Past performance does not indicate future outcomes

Statements about historical performance or growth rates must not be construed as suggesting that future performance, share price or results (including earnings per share) will necessarily be the same or higher than in a previous period. Nothing in this document should be taken as a profit and loss forecast.

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[1] See relevant information published on 17 April 2019 with registration number 277195

 

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