Banco Santander SA Sells Asset Management Stake-Reuters

Thursday, 30 May 2013 01:36pm EDT 

Reuters reported that Banco Santander SA reached a deal with Warburg Pincus and General Atlantic LLC to sell them a 50% stake in its asset management arm. Santander said in a statement it would book a EUR700 million ($914 million) net profit from the deal, which valued Santander Asset Management at EUR2.05 billion ($2.68 billion). 

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