Santander to book $313 million from Brazil stake sales

MADRID, April 25 (Reuters) - Banco Santander (SAN.MC), Spain's largest bank, said the sale of stakes in two Brazilian banks would generate a capital gain of about 233 million euros ($313.2 million).

On Friday, Brazil's No. 2 private bank Bradesco and state-run Banco do Brasil announced the acquisition of Santander's stakes local banks Cielo (CIEL3.SA) and Companhia Brasileira de Solucoes e Servicos (CBSS). [ID:N23240213]

The sales still needed regulatory approval and, in the case of Cielo, approval by the managers of the bank's initial public offering on the Brazil stock exchange, Santander said in a regulatory filing on Sunday. ($1=.7439 Euro) (Reporting by Tracy Rucinski; Editing by Maureen Bavdek)