Sabadell Sells TSB to Santander for 3.3 Billion Euros
Sabadell sold its UK unit TSB to Santander for 3.3 billion euros. The bank will record a capital gain and pay a special dividend to shareholders on May 29.
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Banco Sabadell sold its United Kingdom subsidiary, TSB, to BANCO SANTANDER SA for 3.3B euros. The transaction generates a 300M euro capital gain for the lender based in Spain. Investors receive a 0.50 euro special dividend, signaling a direct return of capital from the divestment.
### Capital Returns and Portfolio Reshaping Banco Sabadell confirmed the completion of the sale on Friday morning. The deal price of 3.3B euros ($3.87B) allows the bank to exit its British operations and realize a 300M euro gain.
