Santander Buys Spanish Vehicle-Sales Platform Coches.com

Date : 01/24/2020 @ 10:49AM
Source : Dow Jones News
Stock : Banco Santander SA (SAN)
Quote : 3.66  0.01 (0.27%) @ 9:48PM
After Hours
Last Trade
Last $ 3.66 ◊ 0.00 (0.00%)

Santander Buys Spanish Vehicle-Sales Platform Coches.com

Banco Santander (NYSE:SAN)
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   By Giulia Petroni 
 

Banco Santander SA (SAN.MC) said Friday that its consumer-finance business acquired a 93.8% stake in Autodescuento SL, the owner of online vehicle-sales platform coches.com.

The Spanish bank said the platform, which counts more than three million unique users a month, is part of a strategy to invest in the car-distribution industry in Spain and enhance its digitization processes in the sector.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

January 24, 2020 05:34 ET (10:34 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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