Banco 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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