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Article: Santander to Buy Banco Real of Brazil.(Banco Santander S.A. deals to buy Banco ABN Amro Real S.A.)(Brief article)
- Article from:
- American Banker
- Article date:
- February 29, 2008
- Author:
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Banco Santander SA of Madrid has a deal to buy Banco Real, the former Brazilian asset management arm of ABN Amro Holdings NV, from Fortis NV for roughly $314.3 million in cash.
The deal, announced Wednesday, is expected to close in the second quarter.
Fortis acquired the asset manager in August, when it joined a consortium led by Banco Santander and Royal Bank of Scotland Group PLC that took over ABN Amro.
Last month Fortis gained the Dutch central bank's approval ...