3 Firms Craft Santander Holdings' $2.5B Subsidiary Buyout

By Charlie Innis (August 24, 2021, 2:00 PM EDT) -- A U.S. unit of Santander will absorb its Dallas-headquartered consumer finance entity by paying about $2.5 billion for the slice of shares it does not already own, in a deal shaped by three law firms, according to a statement Tuesday.

The deal will fully unite Santander Holdings USA, the intermediate holding company for the Santander Group's U.S. businesses, with its subsidiary Santander Consumer USA Holdings Inc., a consumer finance company focused on auto lending. The terms of the deal value Santander Consumer's equity at $12.7 billion, according to a statement.

Santander Consumer USA Holdings Inc., will go private from the transaction....

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