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Sovereign Wealth Funds Briefing - Categorized | Investment

Warburg, Temasek Buying 50% of Banco Santander’s Custody Business

Posted on 20 June 2014

Grupo Financiero Santander Mexico, S.A.B. de C.V. announced that its parent company, Banco Santander, S.A. has entered into a definitive agreement with FINESP Holdings II B.V, an affiliate of Warburg Pincus, a private equity firm focused on growth investing, to create a leader in the custody business.
As per the terms of the agreement, which is conditional upon legal and regulatory approvals, the group which will also include Temasek, a Singapore based investment company, will acquire a 50% stake in Santander’s current custody operations in Spain, Mexico and Brazil. The remaining 50% will be owned by Santander. The transaction is expected to close in the fourth quarter of 2014………………………………………..Full Article: Source


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