Santander reaches deal to sell 50% of fund arm

Morris, Pamela
May 2013
Money Marketing (Online Edition);5/31/2013, p7
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.


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