Spain's Santander eyes $4.3 billion in Mexico sale

MADRID (AP) ? Banco Santander says it hopes to raise up to ?3.4 billion ($4.3 billion) from a public offering of shares in its Mexican subsidiary.

The Spanish bank announced Tuesday it is selling 24.9 percent of Grupo Financiero Santander Mexico's share capital.

It said the sale is part of a strategy of listing the bank's most important subsidiaries within five years and boosting growth.

The sale of almost 1.69 billion shares values Santander Mexico at up to ?13.7 billion.

Banco Santander, S.A. said in a written statement it hopes to list the shares on the Mexican and New York stock exchanges around Sept. 26.

The bank claimed the offering is the largest equity transaction in Latin America this year.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-09-04-Spain-Mexico-Santander/id-8a6b116d8a524d61b0fa61bcf0b3c75c

soulja boy did the groundhog see his shadow punxsutawney phil groundhog day ground hog donald trump groundhog day 2012