Spanish group buys remaining shares of Brazil bank unit
Article Abstract:
Grupo Santander Brasil, a Spaning group, is now the 100% owner of Banco Santander Brasil SA after it purchased the stake of Brazil-based Camargo Correa Group, one of the leading construction groups in Brazil, for $214 million. Under the transaction, Grupo Santander transferred $183 million from the existing capital of its Brazil's investment-banking arm, Banco Santander de Negocios SA, to Banco Santander Brasil SA. The deal involved a total of $397 million. In July 1998, Grupo Santander boosted its stake in Banco Santander Brasil SA to 61.3% with a new capital subscription of $120 million.
Comment:
Sells its stake at Banco Santander Brasil for $214 mil to Grupo Santander Brasil, which is now the 100% owner of the bank
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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BBV to acquire Argentaria, forming Spain's No. 2 bank; more than euro 11 billion deal joins two strong players in Latin American markets; Unicredito put on hold
Article Abstract:
Banco Bilbao Vizcayo and Argentaria Caja Postal y Banco Hipotecario S.A. are expected to announce their merger as early as Oct 19, 1999. The merger would form the second largest bank in Spain and create a domestic rival to Banco Santander. BBV is said to be offering to pay a high premium to Argentaria's stock market capitalization of about 11 billion euros. BBV recently confirmed it is negotiating with Italy's Banco Unicredito S.p.A. about a possible alliance involving exchange of shares, an alliance which now seems likely to be postponed.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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