15th Dec 2005 07:00
Banco Santander Central Hispano SA14 December 2005 Press Release Grupo Santander agrees to sell its stake in Banco Santa Cruz of Bolivia Madrid, December 14, 2005 - Grupo Santander has signed an agreement to sell its96.3% stake in Banco Santa Cruz to the Leon Prado group of Bolivia, the largestshareholder of BISA, one of the country's leading banks. The transaction is subject to approval by the appropriate regulatory authoritiesand other conditions related to the transaction, which are expected to befinalized in early 2006. The price established by the agreement is US$38 million, subject to duediligence, which will generate capital gains of around $20 million. Banco Santa Cruz has 20 offices, $240 million in loans and $430 million indeposits. In 2004, it registered net profit of $3.5 million. This information is provided by RNS The company news service from the London Stock Exchange ENRelated Shares:
Banco Santander