[REVISION HISTORY]

Santander Brazil stake, Webster deal, and buybacks

Updated 18 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-20 13:06 UTC → 2026-08-22 06:20 UTC · added ~~removed~~

In July 2026, Movida reported its strongest quarterly profit in four years, with net earnings of R$ 135.6 million on R$ 4 billion of revenue. Concurrently, Banco Santander launched a voluntary public exchange offer to acquire the remaining ~10% of its Brazilian subsidiary, Santander Brasil, for up to €1.908 billion. The offer, priced at a 15% premium, involves issuing approximately 156 million new shares. While the offer could lead to the delisting of Santander Brasil's ADS from the New York Stock Exchange, the subsidiary is expected to remain listed on Brazil’s B3. Following the tender offer, Santander estimated that the Brazil stake purchase and the pending integration of US-based Webster Financial Corporation would raise its total share count by roughly 491 million, potentially diluting existing shareholders by up to 3.3%. On 5 August, the U.S. Federal Reserve granted final approval for Santander’s $12 billion acquisition of Webster Financial Corporation. On 9 August, Santander announced a new share buyback program of up to €1.825 billion, ~~representing approximately 25% of the group's first-half ordinary profit. The program, which has received regulatory permission, is~~ scheduled to run from 24 August 2026 to 8 January 2027. ~~On 19~~ By 20 August, Santander ~~completed~~ finalized the acquisition of Webster ~~Financial in~~ Financial, a deal valued ~~at approximately~~ between $12.2 billion (€10.5 billion). To finance the transaction, Santander issued 334.8 million new shares, resulting in a 2.2% dilution of existing shareholders. Webster shareholders are receiving $48.75 in cash plus 2.0548 Santander shares per Webster share. Santander expects the integration to increase earnings per share by 7% to 8% and ~~provide a return on invested capital of approximately 15% by 2028. By 20 August, the acquisition was finalized following~~ $12.5 billion. The transaction followed clearances from the U.S. Federal Reserve, the Office of the Comptroller of the Currency, and the European Central Bank. To finance the deal, Santander issued approximately 330 to 334.8 million new shares, resulting in a 2.2% dilution. The acquisition marks a strategic shift toward traditional commercial banking in the U.S., with Webster's operations being integrated into Santander Bank. The combined U.S. operations are projected to hold approximately $327 billion in assets and $172 billion in deposits, positioning Santander as a top provider for private and corporate customers in the U.S.

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