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Santander Consumer USA Inc. has appointed Betty Jotanovic as the new President of Chrysler Capital and Auto Relationships. Jotanovic, who has over 25 years of experience in the auto and financial services sectors, previously led originations at Santander. She will report to Bruce Jackson, recently named CEO of Santander Consumer. This leadership change reflects Santander Consumer's commitment to strengthen dealer and OEM relationships. The company averages managed assets exceeding $65 billion and ranks as a top auto lender by market share, showcasing its robust position in the industry.
Santander Consumer USA announced the appointment of Betty Jotanovic as President of Chrysler Capital and Auto Relationships, reporting to Bruce Jackson, the new head of the Santander US Auto business. Jotanovic, who has 25 years of experience in auto and finance, previously led credit, funding, and dealer management for Santander Auto and Chrysler Capital. Santander Consumer had an average managed asset portfolio exceeding $65 billion in Q3 2022, ranking as the #4 retail auto lender by market share. The company aims to enhance dealer and customer experiences while maintaining strong business relationships.
Santander Consumer USA Inc. (SC) announced grants exceeding $400,000 to support initiatives aiding survivors of domestic violence and human trafficking. The funds include $250,000 for New Friends New Life to enhance economic empowerment for 250 adult survivors and $160,000 for Genesis Women's Shelter to assist 30 families in transitional housing. These programs aim to remove financial barriers and promote self-sufficiency. CEO Mahesh Aditya emphasized the importance of financial empowerment in overcoming social and economic challenges faced by these women.
Santander Consumer USA Holdings Inc. (SC) has extended its financing partnership with FCA US LLC (Stellantis) through December 2025. The amended Master Private Label Financing Agreement enables SC to serve as the preferred provider for consumer loans, leases, and dealer loans while complementing Stellantis' new captive finance arm. This partnership, active since 2013, showcases the ongoing collaboration aimed at enhancing financing options for customers. SC manages an asset portfolio of approximately $64 billion as of Q4 2021.
Santander Holdings USA, Inc. (SHUSA) has successfully completed its acquisition of all outstanding shares of Santander Consumer USA Holdings Inc. (SC) for $41.50 per share following a tender offer. The merger, effective after the tender offer's expiration on January 27, 2022, results in SC becoming a wholly owned subsidiary of SHUSA. All shares of SC not tendered will also receive $41.50 in cash. J.P. Morgan Securities and Covington & Burling LLP provided advisory services during this transaction, which aligns with SHUSA's strategic objectives in the financial services sector.
Santander Holdings USA, Inc. has received approval from the Federal Reserve Board for its acquisition of all outstanding shares of Santander Consumer USA Holdings Inc. not already owned by SHUSA. The tender offer, which closed on January 27, 2022, saw 14,184,414 shares tendered, representing approximately 4.6% of SC’s common stock. The merger is set to be completed on January 31, 2022, with SC becoming a wholly owned subsidiary of SHUSA, and its shares will be delisted from the NYSE. The offer price is $41.50 per share in cash.
Santander Holdings USA, Inc. (SHUSA) has extended its tender offer for all outstanding shares of Santander Consumer USA Holdings Inc. (SC) to $41.50 per share, now set to expire on January 27, 2022. This follows a merger agreement from August 23, 2021, where SC will become a wholly owned subsidiary of SHUSA upon completion. The transaction, which is anticipated to close in the first quarter of 2022, is not subject to shareholder approval but requires regulatory clearance. Approximately 13.1 million shares have been tendered as of January 20, 2022.
Santander Consumer USA (SC) has announced a $35 million initiative in partnership with Comp-U-Dopt to help bridge the digital divide in various U.S. cities. The program, beginning with a $7 million investment in Dallas, aims to provide free high-speed Internet, computers, and digital skills training to eligible low-income households. Targeting 10,000 student households, the initiative addresses issues of connectivity and access that hinder educational and economic opportunities. The program is set to expand over the next two years.
Santander Holdings USA, Inc. (SHUSA) has extended the expiration date for its tender offer to acquire all outstanding shares of Santander Consumer USA Holdings Inc. (SC) for $41.50 per share. Originally set to expire on January 12, 2022, the new expiration date is January 20, 2022. The transaction, which includes a subsequent merger, is not subject to shareholder approval and is expected to close in Q1 2022, pending regulatory approval. The offer has garnered approximately 13 million tendered shares as of January 12, 2022.
Santander Holdings USA, Inc. (SHUSA) announced an extension for its tender offer to acquire all outstanding shares of common stock of Santander Consumer USA Holdings Inc. (SC) at $41.50 per share. The tender offer, which began on September 7, 2021, is now set to expire on January 12, 2022. Following the tender offer, a second-step merger will occur, merging Purchaser with SC, which will survive as a wholly-owned subsidiary of SHUSA. The transaction is subject to customary closing conditions, including regulatory approval.
