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Investing.com -- Shares of Austria’s Erste Group (EBS) surged over 6% on Monday following the bank’s agreement to acquire a 49% stake in Banco Santander ’s (BME:SAN) Polish unit and a 50% stake in its Polish asset management business.
Simultaneously, Banco Santander’s shares saw a modest increase of approximately 1%.
However, shares of Santander Bank Polska (SPL), the Polish unit, experienced a decrease, falling by 4.5%.
Santander on Monday announced the €7 billion all-cash sale of a 49% stake in Santander Polska to Erste, valuing the bank at 2.2 times its Q1 2025 tangible book value and pricing shares at 584 zlotys each.
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