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Santander to acquire TSB in £2.65bn deal
Santander has reached an agreement to acquire TSB Banking Group from Banco Sabadell, with a valuation of £2.65 billion in an all-cash transaction. TSB serves approximately 5 million customers, with £34 billion in mortgages (2% market share in the UK) and £35 billion in deposits.
Santander UK is the product of Santander's acquisition of UK mortgage lender Abbey National in 2004. It also includes the former Bradford & Bingley and Alliance & Leicester. TSB was sold by Lloyds ...
The TSB brand could vanish from UK high streets after rival Santander agreed to buy the lender for £2.65bn, amid fears the ...
The owner of TSB has agreed a deal to sell the bank to Santander in a deal worth up to £2.9bn. Banco Sabadell's board of directors has agreed to propose the sale of its UK subsidiary, TSB, to Banco ...
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Santander Bank to divest seven branches amid digital transformationThe transaction is anticipated to close during the fourth quarter of this year subject to customary regulatory approval.
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