Banco Santander (Brasil) (BSBR) Stock Falls After Share Buyout Today - TheStreet

NEW YORK (TheStreet) -- Shares of Banco Santander (Brasil) S.A.  (BSBR) - Get Report fell 7.91% to $5.47 in morning trading Friday after parent company Banco Santander S.A.  (SAN) - Get Report announced it had increased its ownership of its Brazilian subsidiary.

Some investors in the Brazilian unit accepted Banco Santander's offer to buy out minority shareholders, according to a regulatory filing Friday. Santander will own 88.3% of its Brazilian unit after investors who hold 13.65% of BSBR's capital accepted the buyout offer.

Banco Santander also announced it would issue 370.9 million shares to complete the offer.

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When Banco Santander announced the offer in May, some investors in the Brazilian unit said the offer would have led to a loss for them, as they thought the company's slumping share value was poised for a rebound, according to the Wall Street Journal.

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