Finance
Santander Cuts Polish Unit Stake in Bid to Fund Growth, Buybacks
- Spanish lender looks to raise $660 million via stake sale
- Poland will remain a core market in Santander’s strategy
A Banco Santander bank branch in Warsaw, Poland.
Photographer: Bartek Sadowski/BloombergThis article is for subscribers only.
Banco Santander SA is selling down its stake in its Polish arm Santander Bank Polska S.A as it looks to redeploy capital.
The Spanish lender is offering a 5% stake in the Polish unit with a view to raising around $660 million, according to terms of the deal seen by Bloomberg News. The bank expects proceeds will be used for growth and/or additional share buybacks, the terms show.