Santander Buys TSB from Sabadell for €3.1 Billion
Banco Santander—currently the UK’s fourth-largest mortgage lender—will pay £2.65 billion (approximately €3.1 billion) in cash for TSB, the ninth-largest bank in the country. In addition to this, Sabadell will receive the €300 million that TSB is expected to earn until the transaction closes during the first quarter of 2026. This deal will allow Sabadell to pay €3.8 billion in dividends (equivalent to 1/6 of the bank’s capitalization) over the next…