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Santander offers to buy 8.3% outstanding stake in Mexican unit

MADRID, March 26 (Reuters) - Spain’s Banco Santander said on Friday it has offered to buy the 8.3% stake in its Mexican unit it doesn’t already own.

The bank offered to pay 24 Mexican pesos per share of Banco Santander Mexico that represents a 24% premium on the closing price of March 25 and a total of about 550 million euros ($648.01 million).

($1 = 20.6020 Mexican pesos)

$1 = 0.8488 euros Reporting by Inti Landauro, Editing by Sherry Jacob-Phillips

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