Shareholders of Santander México approve delisting from the BMV

Santander Bank Mexico reported to the Mexican stock exchange (BMV) that its Extraordinary Shareholders’ Meeting, held this Wednesday, approved canceling the registration of all the shares representing the bank’s capital stock in the National Securities Registry, and removing its listing from the BMV.

The financial institution reported that its shareholders meeting also approved the removal of the American Depositary Shares or ADSs (each of which represents five series B shares of the bank) from the listing of the New York Stock Exchange, and withdraw the bank’s shares and ADSs from registration with the US Securities and Exchange Commission.

Santander Mexico specified that the foregoing is subject to carrying out the Takeover Bids (OPA) in Mexico and the United States, which are pending authorization.

For a long timeSantander It had already announced its intention to delist from both stock markets, but the decision was put on hold for a moment and now it has reported that it has already been approved by its shareholders’ meeting.

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In the case of Mexico, Santander At a global level, it has announced that it will launch a Public Acquisition Offer (OPA) for what it lacks in the share capital of its Mexican subsidiary, which is less than 4%, a process that will be carried out at the beginning of 2023.

“The Board of Directors of Santander México has been informed of Banco Santander’s intention to make a Public Takeover Offer (OPA) for all the shares of Banco Santander México that are not yet owned by it,” the entity reported a few days ago. weeks.

Sofom de Santander merges with the bank

Banco Santander México also announced that the regulated multiple purpose financial company (Sophomore ER.) of Santander Mexicowill be merged with the bank, the same as Santander Servicios Especializados.

In this way, these two figures become extinct, since they will be absorbed by the bank.

The foregoing was communicated by Banco Santander México to the BMVafter it was also approved by its Extraordinary General Shareholders’ Meeting held this Wednesday.

It was approved to carry out the merger of Santander Consumo, SA de CV, Sofom ER and Santander Servicios Especializados, SA de CV, as merged companies that are extinguished, with Banco Santander México, as the merging company that survives, “he reported.

This, he added, in the understanding that said operation is subject to the suspensive condition, consisting of obtaining authorizations from the corresponding financial authorities to carry out the merger between said companies.

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