| MADRID/LONDON April 26
MADRID/LONDON April 26 Spain's biggest bank
Santander is in exclusive talks with U.S. private
equity firms Warburg Pincus and General Atlantic LLC to
sell a stake in its asset management business, three people
familiar with the discussions said.
Talks over the stake sale in the business, which had 161
billion euros ($210 billion) of assets under management at the
end of March, are at an advanced stage, the sources said,
although they did not detail when the exclusivity period was due
They also declined to comment on the exact size or value of
the deal. The private equity firms would most likely be minority
partners in the unit, as Santander looks to grow the business
internationally, one of the people said.
Santander, Warburg Pincus and General Atlantic declined to
comment. ($1 = 0.7676 euros)