Santander to book $313 million from Brazil stake sales

MADRID, April 25 (BestGrowthStock) – Banco Santander (SAN.MC: ),
Spain’s largest bank, said the sale of stakes in two Brazilian
banks would generate a capital gain of about 233 million euros
($313.2 million).

On Friday, Brazil’s No. 2 private bank Bradesco and
state-run Banco do Brasil announced the acquisition of
Santander’s stakes local banks Cielo (CIEL3.SA: ) and Companhia
Brasileira de Solucoes e Servicos (CBSS). [ID:N23240213]

The sales still needed regulatory approval and, in the case
of Cielo, approval by the managers of the bank’s initial public
offering on the Brazil stock exchange, Santander said in a
regulatory filing on Sunday.
($1=.7439 Euro)
(Reporting by Tracy Rucinski; Editing by Maureen Bavdek)

Santander to book $313 million from Brazil stake sales