Tuesday, Oct 19, 2010
Gulf News
Dubai Qatar Holding has acquired a 5 per cent stake in Brazil-based Banco Santander (Brasil) through an agreement to purchase $2.7 billion of mandatorily exchangeable bonds to be issued by Banco Santander.
The three-year bonds pay an annual coupon of 6.75 per cent and are exchangeable into Santander Brasil units at a reference price of L23.75 reals per unit, the Doha-based firm said in a statement yesterday. Closing of the transaction is expected to take place by the end of this month.
Shaikh Hamad Bin Jassim Bin Jabr Al Thani, Prime Minister 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.”
Dr Hussain Ali Al Abdullah, Vice-Chairman of Qatar Holding, added: “This acquisition accomplishes our objective this year of increasing our exposure to fast growing emerging markets like Brazil.”
agreement
Staff Report
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