Santander Sells 50% Stake in Asset-Management Arm to Investment Firms

DealBook June 1 2013
Banco Santander said on Thursday that it had sold a 50 percent stake in its asset-management arm to two investment firms, Warburg Pincus and General Atlantic, as the bank continues to raise money to bolster its balance sheet.
At the same time, the infusion of cash into the asset manager is meant to help it expand and compete, especially in regions like Latin America.
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