TITLE

Santander reaches deal to sell 50% of fund arm

AUTHOR(S)
Morris, Pamela
PUB. DATE
May 2013
SOURCE
Money Marketing (Online Edition);5/31/2013, p7
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that bank Grupo Santander SA has decided to sell half of its asset management business to private equity groups Warburg Pincus & Co. and General Atlantic Corp. in a 2.05 billion dollars deal. The deal will offer a net capital gain of 700 million pounds to Santander, and is liklely to be closed by the end of 2013.
ACCESSION #
88000272

 

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