Banco Santander Chile (NYSE: BSAC) to sell 49.99% of Getnet Chile unit
Rhea-AI Filing Summary
Banco Santander-Chile has signed a share purchase agreement to transfer 49.99% of the shares of its subsidiary Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. to Getnet Payments, S.L. A related service agreement between the Bank and the subsidiary was also signed. Both agreements were approved at an extraordinary shareholders’ meeting held on January 27 of this year.
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Insights
Santander Chile restructures Getnet Chile ownership with a 49.99% stake sale.
Banco Santander-Chile signed a share purchase agreement to transfer 49.99% of its payment-processing subsidiary, Santander Getnet Chile, to Getnet Payments, S.L. A separate service agreement between the bank and the subsidiary will govern ongoing commercial ties.
The move was approved at an extraordinary shareholders’ meeting on
Future company communications may clarify how the new ownership split and service agreement shape Santander Chile’s role in card acquiring and payment services, including revenue recognition between the bank and the Getnet Chile subsidiary.
