Norbolsa | The Spanish bank has agreed to sell 49% of its stake in Santander Bank Polska to Erste Group for around €6.8 billion, as part of a strategy to simplify its global footprint and focus on strategically connected markets. The deal also includes the sale of 50% of its asset management business in Poland, valued at €200 million, bringing the total value of the transaction to €8.9 billion. With the proceeds, Santander plans to make share buybacks of up to €3.2 billion and reinvest in organic growth and strategic acquisitions. In addition, it will establish a global cooperation with Erste in corporate and investment banking and payments. This transaction represents a significant release of capital, with an expected positive impact on earnings per share and the group’s profitability around 2027-2028.
Santander plans share buybacks of up to €3.2bn with proceeds from sale of 49% stake in Polish subsidiary
