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|| Qatar investment firm acquired stake in Brazil bank for $2.7 billion

qh-santander.jpgBanco Santander announced that it has reached an agreement with Qatar Holding, by which the latter will subscribe a bond issue amounting to $2.7 billion, mandatorily exchangeable for existing or for new shares of Banco Santander Brasil.

“This acquisition accomplishes our objective this year of increasing our exposure to fast growing emerging markets like Brazil, after our earlier investment in China during the summer. This will further diversify our portfolio’s geographical coverage, this time to Latin America", said MD and CEO of Qatar Holding

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More details from their releases follows

-----------------------Santander Release-------------------------------------
Banco Santander hereby announces that it has reached an agreement with Qatar Holding, by which the latter will subscribe a bond issue amounting to USD 2.719 billion, mandatorily exchangeable for existing or for new shares of Banco Santander Brasil, at the choice of Banco Santander.

This transaction represents 5% of the share capital of Banco Santander Brasil.

The bonds will mature on the third anniversary of the issuance date. The conversion or exchange price will be BR$ 23.75 per share and the bonds will pay an annual coupon of 6.75% in USD.

This investment represents the incorporation of Qatar Holdings as strategic partner of Grupo Santander in Brazil and in the rest of Latin America.

The transaction allows Banco Santander to advance in its commitment for its Brazilian affiliate to have a free float of 25% by the end of 2014. The transaction is subject to the appropriate documentation customary in this type of issuances.

--------------------------QH Release----------------------------------
Qatar Holding today announces the acquisition of a 5% stake in Banco Santander (Brasil) S.A. through an agreement to purchase US$2.7 billion of mandatorily exchangeable bonds to be issued by Banco Santander S.A.

The 3-year bonds pay an annual coupon of 6.75% and are exchangeable into Santander Brasil units at a reference price of BRL23.75 per unit. Closing of the transaction is expected to take place by the end of October 2010. Upon completion of the transaction, Qatar Holding is thus a key shareholder in major financial institutions around the world, from China to Europe and now Brazil.

Commenting on the transaction, His Excellency Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, Prime Minister of the State of Qatar and Chairman of Qatar Holding, said:

“We are happy to announce our new investment in Santander Brasil. This reflects our commitment to strengthen bilateral ties and economic cooperation with an important growing economy, which is one of the results of the visit of His Highness the Emir to Brazil.”

Dr. Hussain Ali Al-Abdulla, Vice Chairman of Qatar Holding, added:

“This acquisition accomplishes our objective this year of increasing our exposure to fast growing emerging markets like Brazil, after our earlier investment in China during the summer. This will further diversify our portfolio’s geographical coverage, this time to Latin America.”

Mr. Ahmad Mohamed Al-Sayed, Managing Director and Chief Executive Officer of Qatar Holding, concluded:

“It is important for Qatar Holding to be connected with the world’s strongest banks through strategic relationships. Today we are beginning a long-term strategic partnership with Santander, our new investment partner in Latin America.”

Barclays Capital is acting as exclusive financial adviser to Qatar Holding.



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