Abu Dhabi Buys Shares on Santander Brazil’s Initial Public Offering

Santander Brazil The biggest shareholder in Daimler AG, publicly listed Abu Dhabi fund Aabar Investments PJSC, invested US$ 328 million in Banco Santander (Brasil) SA by buying shares in its initial public offering.

Aabar bought American depositary shares issued by the Banco Santander (Brasil), a unit of Spain's biggest bank, Aabar said in a statement to the Abu Dhabi bourse Monday.

"We hope to continue to strengthen and develop the existing relationship we have with Banco Santander and look forward to working with them in the future," Aabar Chairman Khadem Al Qubaisi said in the statement.

Aabar started as a small energy company but was transformed when its core assets were taken over by International Petroleum Investment Company which is wholly owned by the Abu Dhabi government.

Aabar in March paid US$ 2.7 billion for a 9.1% stake in Stuttgart, Germany-based Daimler, the world's second-biggest luxury carmaker. In July, it bought a 32% stake in Richard Branson's Virgin Galactic Ltd. commercial space venture for US$ 280 million.

Santander plans to open 600 branches in Brazil by 2013 and carve out new business in lending to companies and homebuyers. The company, with more than 2,000 branches in the country, is Brazil's fourth-biggest non-state bank, with a market share of about 10 percent by assets.

Abu Dhabi is the largest and wealthiest of the seven emirates that make up the UAE and has spent billions trying to diversify its oil dependent economy and become an internationally recognized financial hub.

Mercopress

Tags:

  • Show Comments (1)

  • Leo Bonneville

    Its just a matter of time now…
    As the investors look to new places to invest, BRAZIL is most definitely capable of handling such a high demand for investment opportunities…

    With a solid and diverse business sector, and home and business loans on high demand more and more international financial institutions will be looking to Brazil for a safe and yet high yielding return on their investments… Don’t be surprise if Wellsfargo Bank joins Banco Santader and heads down south…

    Leo Bonneville

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Over 100,000 Undocumented Women Get Their Papers in Brazil

In the last two years, over 122,000 Brazilian women obtained documentation for the first ...

Industry Creates 600,000 New Jobs in Brazil

Industry in Brazil was the leader in job creation in the country in 2004. ...

Brazil vs. US: The Finger Affair

Brazil has been harshly criticized for its decision to identify Americans arriving in its ...

Brazil’s Lula Reaffirms Commitment to Family Vouchers

Brazilian President Luiz Inácio Lula da Silva reaffirmed Saturday, June 4, his commitment to, ...

Brazil Empire Lives On

Brazil has not completely finished the process of becoming a Republic. Nor has it ...

Flags from India, Brazil and South Africa (IBSA)

India-Brazil-South Africa: the US$ 1 Trillion Bumbling Gorilla

In the face of mounting pressures to develop an alternative option to globalization – ...

Brazil Triples Funds for Exports to Close to US$ 800 Million

Brazil's federal government is going to nearly triple the funds for its Export Financing ...

A Brazilian Appeal: Help Haiti, Fast!

The Brazilian Minister of Defense, José Viegas, reinforced today the need for international aid ...

Brazil’s Minimum Price for Beans Spurs Farmers

The minimum price stipulated by the government for the price of beans should generate ...

Brazil Building Lab For Testing Cigarettes Ingredients

Brazil will have a research lab for monitoring activities related to tobacco consumption. The ...