Santander UK High Street Lender to get the TSB 2.65bn

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Santander, British High Street Lender TSB agreed to receive 2.65BN TSB 2.65BN TL, which stressed the commitment of Spain’s UK retail operation.

Santander, people who are familiar with the issue, defeated the British opponent Barclayus, who also laid an official proposal for the unit belonging to Sabadell.

The deal comes in 2015 as Sabadell, who has purchased the TSB for £ 1.7 billion, wants to turn off the host of 11 billion euros from BBVA to 11 billion euros.

Sabadell launched a proposal process for TSB, after receiving an unwanted interest in the work, financial time appeared last month.

This action has launched an enemy offer for Sabadell by BBVA, has launched an enemy offer to Sabadell, who fell from today’s worst seizure epic.

Santander’s successful proposal for TSB will increase the market share of Spain’s creditor and comes in connection with the future of thousands of banks in Britain. His British department also announced the beginning of this year after disagreements with the leadership of the group.

There is a Santander in the last year Tender offers Both Natwest and England rejected the proposals for retail levers, but as a result due to disagreements due to prices.

The bank’s heads of Spanish heads were angry with other markets, as well as the high price base of the unit.

“We did not want to sell the British business, but we have suggestions,” he said. “This is a better result and the Santander will allow you to resolve the UK issues … and speed up growth.”

The Santander recently sold a large part of the Austre group to the Erste group sold a large part of about 7 billion euros to 7 billion euros, and promises to use half of cash to retrieve their shares.

BBVA has never been clear about plans for Sabadell, but it was expected to be launched if the Spanish opponent will be successful. However, this was a significant impetus from the Spanish government, which will prevent the legal unification between banks for at least three years last week.

Currently, the Board of Directors, which is a seizure of Sabadell, is related to “passivity task”, that is, the agreed operation will be presented to investors for approval at the meeting of extraordinary general shareholders.

Chairman of the Department of Sabadell said, Josep Oliu said: “This operation is useful for banking and shareholders, because it creates an important value that allows you to pay an extraordinary dividend.”

Santander said that the combination would give a fundamental value to Santander shareholders by the growing way …. Low risky mortgage loans and high quality deposits and operating effective. “

The bank’s executive chair Mother Botín, “The operation will accelerate our way to the UK and help them return 16 percent in equations in 2028.” The section had a material capital, profitability of 20 percent in 2024.

TSB, last year, $ 285 million from £ 1,14 billion.