Nov 21 Banco Santander SA is
considering a near-term initial public offering of its American
car-financing business, according to a recent report.
Spain's biggest bank, which in September launched a
successful $4 billion U.S. listing of its Mexican unit, is
planning an offering for the first half of 2013, the Wall Street
Journal said on Wednesday.
Based in Fort Worth, Texas, the unit could be valued at as
much as $6 billion although plans are still in the early stages.
Santander has been spinning off foreign units as it looks to
shore up capital amid gloomy European markets. It has already
listed its Brazilian and Chilean arms and its Argentine and UK
businesses are expected to soon follow.
A U.S.-based spokeswoman of Banco Santander was not
immediately available for comment.
(Reporting by Olivia Oran; Editing by Gary Hill)