Santander Brasil Denies Any Plan To Sell An Equity Stake
May 25 2012 - 3:09PM
Dow Jones News
Banco Santander Brasil S.A. (SANB4.BR, BSBR) on Friday denied
news reports that it was mulling the sale of a minority stake to a
competitor in Brazil.
"The bank is not for sale," said a press officer for Santander
Brasil, a unit of Spain's Banco Santander SA (SAN.MC, STD).
There has been consistent press speculation this week that up to
40% of Santander Brasil could be sold, either to government-run
bank Banco do Brasil S.A. (BBAS3.BR) or to Brazil's second-largest
private-sector bank, Banco Bradesco S.A (BBD, BBDC4.BR).
On Wednesday, Banco do Brasil rejected speculation that it was
in talks to purchase a stake in Santander. Bradesco said it
wouldn't comment on the speculation.
According to data provided by Brazilian research firm Austin
Rating, Santander Brasil had BRL423.7 billion ($212 billion) in
assets at the end of 2011, making it the fifth-largest bank in
Brazil.
-By Luciana Magalhaes, Dow Jones Newswires; +5511 3544-7072;
luciana.magalhaes@dowjones.com
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