IMG
Qatar Investment Authority to Sell 40 pct of Santander Brasil Stake

Qatar Investment Authority ("QIA") announced the launch of a secondary public offering of its American depositary shares ("ADSs") of Banco Santander (Brasil) S.A. ("Santander Brasil") (NYSE: BSBR).

Qatar Investment Authority announced the launch of a secondary public offering of its American depositary shares of Banco Santander (Brasil) S.A. . QIA holds approximately 5.5% of the total outstanding shares of Santander Brasil and intends to sell approximately 40% of its position.

This transaction forms part of the routine portfolio management activities undertaken by QIA from time to time. QIA has been an investor in Santander Brasil for close to 7 years and, following the completion of this offering, expects to remain the second largest shareholder of Santander Brasil after Banco Santander S.A.

In connection with the offering, QIA has agreed to enter into a customary lock-up. The offering will be underwritten by BofA Merrill Lynch, Credit Suisse and Santander Investment Securities.

American depositary shares ("ADSs") each represent the right to receive one unit, which is composed of one common share, no par value, and one preferred share, no par value, of Banco Santander (Brasil) S.A.

QIA expects to grant to the underwriters of the offering an option to purchase up to an additional approximately 15% of the ADSs being offered.

Next Finance 30 March
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