Banco Santander SA Buys 20% Stake In Bank Of Beijing Co Ltd's Consumer Finance Unit-Reuters


Wednesday, 15 May 2013 07:34am EDT 

Reuters reported that Banco Santander SA has been authorized to buy a 20% of Bank Of Beijing Co Ltd's Consumer Finance Company for CNY 306 million ($49.81 million) through a capital increase, becoming the unit's second biggest shareholder. Santander Consumer Finance will take part in developing and managing the company, which has a loan book worth CNY 2 billion. 

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