BAML Exits Santander Mexico
Santander is buying back from Bank of America Merrill Lynch (BAML) a 24.9% stake in Santander Mexico for $2.5bn cash. BAML paid approximately $1.6bn cash for the stake in late 2002 and said it had a book value of $2.7bn at the end of March. The transaction values the Santander Mexico unit at $10bn and the Spanish parent says Mexico’s contribution to group profit will increase...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.