Santander completes sale of 2% stake in BZ WBK

Spanish Banco Santander cut down its holding in Polish unit BZ WBK from 71.41 percent to 69.41 percent as a result of the completion of an accelerated book-building process, the Polish lender said. Banco Santander sold the 2-percent stake in connection with an obligation imposed by the Polish Financial Supervision Authority related to the merger between BZ WBK and Kredyt Bank. It has agreed to keep at least 30-percent of BZ WBK shares in free float. The accelerated book-building was launched on October 1.