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Santander Sells $290M Chilean Unit Stake
Banco Santander has sold a 9.1% stake in its Chilean unit, Banco Santander Chile, for $290 million.
Banco Santanderhas sold a 9.1% stake in its Chilean unit,Banco Santander Chile,for $290 million,The Wall Street journalreports. The Spanish lender sold a total of 3.60 billion shares of the Chilean division at $0.08 per share.
After the completion of the transaction, Banco Santander holds a 75% interest in its Chilean unit. The country’s lender’s brokerage unit handled the sale, addsBloomberg.
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