Banco Santander SA (STD) Monday said it will launch a $50 million offer for the 9.4% of its Puerto Rican unit, Santander Bancorp (SBP), it doesn't already own.

Spain's largest bank by assets and market value said it plans to delist Santander Bancorp from the New York Stock Exchange and from Spain's Latibex exchange.

-By Jonathan House, Dow Jones Newswires; +34 91 395 8120; jonathan.house@dowjones.com
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