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Santander (SANB11) announces sale of stake in bank and brokerage

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The values ​​of the Santander operation were not disclosed (Image: Rafael Borges / Money Times)

O Santander Bank 🇧🇷SANB11) announced the sale of stakes held by subsidiaries of Santander Brasil, representing 50% of the share capital of Banco PSA Finance Brasil and another 50% of the share capital of PSA Corretora de Seguros e Serviços.

The brokerage was sold to Stellantis Services, which will become the company’s sole shareholder.

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The bank no longer has the Santander as a shareholder and now has Banque PSA Finance as the sole holder of the assets.

The transaction values ​​were not disclosed.

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The conclusion of the purchase is still subject to the fulfillment of certain precedent conditions usual in similar transactions.

Check out Santander’s ad:

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Source: Moneytimes

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