The Spanish group is seeking to acquire all of the US-based Sovereign Bancorp.
The president of the Santander group, Emilio Botín, will now focus on buying new banks in the United States and Asia after the acquisition of the Dutch group ABN Amro, which will be completed today with the settlement of his offer, reports the "Financial Times".
Specifically, Santander will be able to acquire all of the shares of the US bank Sovereign Bancorp from the middle of next year until 2011 after entering the US market with the purchase of 19,8 percent of that bank in 2005.
Botín said this summer that his group rejected several acquisitions in Eastern Europe and Asia in 2006, and specified that they will only be made when they create value for the shareholder, that is, if they allow for an improvement in earnings per share and if the return on investment exceeds the cost of capital in a maximum of three years.
According to financial experts consulted by the British newspaper, Botín, at 74 years old, is a "man in a hurry".
"He wants to complete Santander's international footprint and consolidate his legacy before handing it over to his daughter, Ana Patricia (Botín)," they added.
Ana Patria Botín, president of Banesto, a subsidiary of Santander, is expected to succeed her father as president of the group when he retires.
However, Emilio Botín has not yet given any indication that he plans to retire soon.
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