Santander announces a voluntary offer to acquire the remaining 25% minority stake in Santander Brasil. Under the terms of the offer, Santander Brasil shareholders will receive 0.70 Santander Group shares for each Santander Brasil share, representing a 20% premium. The transaction is expected to be completed by Q4 2014 pending shareholder and regulatory approvals. The acquisition is strategically and financially attractive as it allows Santander to fully capture the long term growth potential of Santander Brasil and increase the weight of its portfolio in markets with structural growth.