Spain’s Banco Santander SA (SAN) said on Friday that it is wholly-owned subsidiary Banco Popular Espanol SA has decided to sell TotalBank to Chile’s Banco de Credito e Inversiones (BCI.SN) for $528 million.
TotalBank can be a Florida-based retail and commercial bank which has a total of 18 branches contributing to $3.1 billion in assets that is fully owned by Banco Popular since 2007.
“While TotalBank is a superb franchise, it isn’t an organic match our existing U.S. business,” said Santander’s executive chairman, Ana Botin.
Santander said the sale will contribute five basis points to its core equity tier-one capital ratio and 60 basis suggests Banco Popular’s CET1 ratio.
Canadian software maker BlackBerry Ltd (TO:BB) (N:BB) said on Friday it would pay Nokia (HE:NOKIA) Corp $137 million, in accordance with a ruling through the International Court of Arbitration.
BlackBerry said it promises to require a charge on account of the ruling, but would not disclose in the event it would record it.
The Canadian company said the dispute was associated with certain payments due within patent license contract between your companies.
The dispute didn’t involve any allegations of intellectual property (IP) infringement and BlackBerry said it would continue to pursue separate patent infringement claims against Nokia.
Monetizing BlackBerry’s IP can be a key part of Leader John Chen’s plan for turning across the company whose revenues have declined for six straight years as sales of their once ubiquitous smartphones have tumbled.
Shares from the company were down 1.2 percent at C$13.75 for the Toronto Stock trading game.