Disposal

RNS Number : 7760P

Banco Santander S.A.

31 March 2009

 

MATERIAL FACT

Grupo Santander announces that it has reached agreement with the International Petroleum Investment Company of the Emirate of Abu Dhabi for the sale to the latter of its 32.5% stake in Cepsa, at a price of 33 euros per share, which if applicable would be reduced by the amount of any dividends paid, prior to the closing of the transaction, charged to the 2009 financial year. With this transaction, the historical annual return for Grupo Santander derived from its investment in Cepsa has been 13%. The sale has no impact on Grupo Santander's earnings since this holding in Cepsa has been entered in the accounts under the equity method. 

The transaction is subject to certain conditions, which include the obtaining of the appropriate regulatory authorisations and the closing of the financing.

Boadilla del Monte (Madrid), 31st March 2009

 

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