Banco Santander, S.A. (BME:SAN) agreed to acquire an additional 84.6% stake in Uro Property Holdings SOCIMI, S.A. (BME:YURO) from Ziloti Holding S.A for approximately €150 million on July 23, 2020. Under the terms, Banco Santander acquires the stake at €40.04 per share. Banco Santander already has a 14.9% stake in Uro Property and in a related transaction made an offer to acquire remaining stake in Uro Property for €0.69 million. The transaction is subject to approval from National Commission of Markets and Competition (CNMC). As on September 11, 2020, National Commission of Markets and Competition gave approval for the transaction. Juan Miguel Goenechea, Manuel Echenique and Rachel Brown of Uría Menéndez Abogados, S.L.P. acted as legal advisors to Banco Santander, Álvaro Ramírez de Haro, Julio Lujambio, Dídac Severino and Norma Peña S.A. Pérez-Llorca Abogados, S.L.P. y CÍA, S.Com.P. acted as legal advisor to Ziloti Holding S.A. Ben Crosse of Linklaters, S.L.P. acted as an legal advisor to Uro Property Holdings SOCIMI, S.A and its management team.

Banco Santander, S.A. (BME:SAN) completed the acquisition of an additional 84.6% stake in Uro Property Holdings SOCIMI, S.A. (BME:YURO) from Ziloti Holding S.A on September 16, 2020.