Sovereign inks agreement with Spanish banking partner [buyout]

The Patriot Ledger, Quincy, Mass. ^ | 2008-10-14 | Jon Chesto

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BOSTON — Banco Santander, the Spanish company that owns a minority stake in Sovereign Bancorp Inc., has reached an agreement to buy the rest of Sovereign that it doesn’t already own in a deal valued at $1.9 billion.

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Very good news for Sovereign shareholders and employees.