Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 672

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 672
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bury Partners Limited On 28 April 2020, the investment announced on 4 November 2019 in Ebury, a payments and foreign exchange platform for SMEs, was completed. The transaction involved a total disbursement of GBP 357million (approximately EUR 409million) of which GBP 70million (approximately EUR 80million) was for new shares. By the end of 2019, the Group had already acquired 6.4% of the company for GBP 40million (approximately EUR 45million). Following the disbursement made in April 2020, which gave the Group 50.38% of the economic rights of the company, without the conditions to obtain control being met, this interest was recorded under 'Investments - Associated entities' in the consolidated balance sheet. In April 2022 Grupo Santander acquired a new package of shares for GBP 113million (approximately EUR 135million) and subscribed in full to a new capital increase, paying an additional GBP 60million (approximately EUR 72million). Following these transactions, the Group holds 66.54% of the economic rights and control of the company. The total value of the net assets identified in the business combination amounted to EUR 413million, mainly intangible assets (IT developments, customer lists and brand) and resulted in the recognition of goodwill of EUR 316million. No gain or loss was recorded for the difference between the book value and the fair value of the previous holding as this difference was not significant.

v. Purchase by SHUSA for shares of Santander Consumer USA In August 2021 Santander Holdings USA, Inc. ('SHUSA') and Santander Consumer USA Holdings Inc. ('SC') entered into a definitive agreement pursuant to which SHUSA acquired all outstanding shares of common stock of SC not already owned by SHUSA via an all-cash tender offer (the 'Tender Offer') for USD 41.50per SC common share (the 'Offer Price'), followed by a second-step consisting of a merge (together with the Offer, the 'Transaction') in which a wholly owned subsidiary of SHUSA was merged with and into SC, with SC surviving as a wholly owned subsidiary of SHUSA, and all outstanding shares of common stock of SC not tendered in the Tender Offer were converted into the right to receive the Offer Price in cash. The Offer Price represented a 14% premium to the closing price of SC common stock of USD 36.43as of 1 July 2021,