Banco Santander S.A. Merger by absorption agreement of Banco Popular (8591L)
April 24 2018 - 2:00AM
UK Regulatory
TIDMBNC
RNS Number : 8591L
Banco Santander S.A.
24 April 2018
MATERIAL FACT
Banco Santander, S.A. ("Banco Santander") announces that its
Board of Directors and that of Banco Popular Español, S.A.U.
("Banco Popular") have agreed the merger by absorption of Banco
Popular by Banco Santander, pursuant to the procedure established
in Articles 49 and 51 of the Spanish Structural Modifications Law
(the "Merger").
Accordingly, the respective Boards of Directors have agreed to
approve and sign the common draft terms of the merger by absorption
of Banco Popular (being the absorbed company) by Banco Santander
(being the absorbing company). Banco Popular is directly
wholly-owned by Banco Santander.
In accordance with the abovementioned common draft terms of
merger, once the Merger is completed after the mandatory
authorisation of the Merger by the Minister of Economy, Industry
and Competitiveness has been obtained and satisfied (or, when
applicable, waived) the rest of the conditions precedent whom the
Merger is subject to, Banco Santander will acquire, by universal
succession, all of the assets and liabilities of Banco Popular,
including those acquired from Banco Pastor, S.A.U. and from Popular
Banca Privada, S.A.U. by virtue of the merger by absorption of
these last companies by Banco Popular, which has already been
approved by their respective Boards of Directors and the
registration of which is required for the Merger to be
effective.
The common draft terms of merger are available on the corporate
websites of Banco Santander (www.santander.com) and Banco Popular
(www.grupobancopopular.com).
Boadilla del Monte (Madrid), 24 April 2018
This information is provided by RNS
The company news service from the London Stock Exchange
END
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