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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