31st Jul 2009 07:00
MATERIAL FACT
Following the material fact announcement published on March 31, 2009, Grupo Santander hereby notifies that it has today transferred to International Petroleum Investment Corporation (IPIC) its 32.5% stake in CEPSA at the agreed price of 33 euros per share. The acquirer will apply to the National Securities Market Commission for exemption from the obligation to launch a tender offer, in accordance with the provisions of article 4.2 of Royal Decree 1066/2007, owing to the existence of a shareholder with a higher stake in the share capital, the denial of which would be cause for termination of the contract.
With this transaction, the historical annual return for Grupo Santander derived from its investment in Cepsa has been 13%. The sale has no impact on Grupo Santander's earnings since this holding in Cepsa has been entered in the accounts under the equity method.
Boadilla del Monte (Madrid), July 30, 2009
Related Shares:
Banco Santander