Emirates Plunk Over 300 Million in Santander Brazil

Santander Bank in Brazil United Arab Emirates' Aabar Investments PJSC, announced it is investing US$ 328 million in Santander Brazil bank shares. The Initial Public Offering (IPO) of Santander bank shares took place last week at the São Paulo Stock Exchange (Bovespa) and the New York Stock Exchange.

The fund is headquartered in Abu Dhabi and invests in several sectors, among them energy, infrastructure, real estate, automotive and financial services. The main controller of Aabar is the International Petroleum Investment Company, which belongs to the government of the emirate of Abu Dhabi.

Aabar also has 9.1% of the shares of carmaker Mercedes-Benz, being the main shareholder in the German company, as well as owning 33% of private space travel company Virgin Galactic and 4% of North American electric car producer Tesla Motors.

"We are delighted to have had the opportunity to invest in such a strong and successful entity. 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," said the chairman of Aabar fund, Khadem Al Qubaisi.

Santander opened its first branch in Brazil in 1982. In August 2008, the bank incorporated the shares of Banco Real, in April this year, finished the legal incorporation of Banco Real.

Santander had 305 billion Brazilian reais (US$ 176 billion) in assets in the first quarter of 2009, ending the period with profit of 533 million reais (US$ 308 million). The bank has over nine million clients and operates in all sectors of the financial market.

Anba

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