Santander to Sell Stake in Polish Subsidiary for Around $473 Million After Erste Group Deal

Banco Santander

SAN

increase; green up pointing triangle said it is selling part of its stake in its Polish subsidiary for $473.1 million, after its decision to divest around half of Santander Bank Polska

SPL -5.71%

decrease; red down pointing triangle to Erste Group EBS 1.76%increase; green up pointing triangle earlier this year.

The Spanish group said Tuesday that it completed the placement of 3.58 million ordinary shares, representing around 3.5% of Santander Bank Polska’s share capital, at 482.0 Polish zloty ($132.27) a share.