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Banco Santander Brasil SA Updates on Sale of Total Stake in Subsidiary to Banco Santander SA


Monday, 13 May 2013 08:28am EDT 

Banco Santander Brasil SA announced that following the announcements made on February 22, 2011 and July 14, 2011, in relation to the sale of the total shares of its wholly owned subsidiary Zurich Santander Brasil Seguros e Previdencia SA (current name Santander Seguros SA) (Zurich Santander Seguros) to Zurich Santander Insurance America SL (current name of ZS Insurance America SL), a holding company located in Spain whose 51% stake is held by Zurich Financial Services Ltd and its affiliated companies and 49% by Banco Santander SA, the Company‚Äôs controlling shareholder, the total value of the transaction was of BRL 2,744,990,429.98 resulting in a price reduction of BRL 6,567,142.00. The Company will call a general meeting to offer its shareholders the preference right for the acquisition of shares of Zurich Santander Seguros. 

Company Quote

8.67
0.03 +0.35%
22 Dec 2014