Banco Santander announces the outcome of the exchange offers in connection with Santander Brasil

BOADILLA DEL MONTE (MADRID), Spain, Oct. 31, 2014 /PRNewswire/ -- Banco Santander, S.A. ("Banco Santander") announced today the expiration of the initial offering period of the U.S. and Brazilian exchange offers made for the shares of Banco Santander (Brasil) S.A. ("Santander Brasil") that are not held, directly or indirectly, by Banco Santander, which were launched on September 18, 2014 (the "Offers"). Approximately 357,537,048 Santander Brasil ADSs, 160,290,654 Santander Brasil units, 379,108 Santander Brasil common shares and 1,261,536 Santander Brasil preferred shares, representing in the aggregate approximately 13.65% of Santander Brasil's share capital, have been tendered in the Offers. Therefore, Banco Santander's shareholding in Santander Brasil will increase to approximately 88.30% of its share capital.

To satisfy the exchange offers, Banco Santander will issue approximately 370,937,066 shares (which will be delivered in the form of American Depositary Shares in the U.S. Offer or Brazilian Depositary Shares in the Brazilian Offer), which represent approximately 3.09% of Banco Santander's share capital as of this date, pursuant to the resolution passed by the extraordinary general shareholders' meeting of Banco Santander held on September 15, 2014. 

The percentage of shares tendered is below the threshold described in the U.S. Offer to Exchange/Prospectus dated September 18, 2014 (as supplemented) and the other offering documents published in Brazil that would have triggered the right under Brazilian law of holders of Santander Brasil securities that were not tendered during the initial offering period to sell such securities to Banco Santander during a 3-month subsequent offering period at the same exchange ratios. Therefore, no subsequent offering period will be provided.

Contact: Nancy Orlando, 617-757-5765

SOURCE Banco Santander S.A.