Five Days / Santander reported to the CNMV that will buy 50% of Santander Asset Management that is not controlled by Warburg Pincus and General Atlantic, which he bought in 2013. The failed merger between Santander Asset Management and Pionner, the asset management division of Intesa Sanpaolo, broken at the end of last July valued the Spanish company at about 2,600 million euros, including, yes, the trading platform of funds Allfunds.
The entity chaired by Ana Botín has made public that will also explore the sale of its shares in Allfunds, for which no download is an ipo. Santander AM controls 50% of the platform funds to institutional investors with Intesa San Paolo.
Allfunds is a platform that allows the sale of funds and was created by Santander in 2000 and four years later, Intesa Sanpaolo acquired the 50%. The firm has offices in Spain, Italy, United Kingdom, Chile, Colombia, Dubai, Luxembourg and Switzerland.
The other 50% of Allfunds is in the hands of Santander AM, so that Warburg Pincus and General Atlantic control between both a 25% and the entity that presides Ana Botín has the remaining 25%.
Allfunds, whose eventual sale came on the last October 7, after a information of Bloomberg, would have an initial assessment in the environment of the 2,000 million euros and have already been interested by the platform, several venture capital funds. According to that appraisal, preliminary, Santander would get for their 25% in Allfunds around 500 million euros.
Santander has explained to the SEC that, by 2018, the operation will generate a return on invested capital (ROIC) of over 20%, which will be 25% in 2019. He estimates that the negative impact on your capital (core equity tier 1) to end of 2017 from the operation will be approximately 11 basis points.
SPAIN: Santander will buy the 50% of its manager and bring it to Bag Allfunds
With Information of Five Dias
http://entornointeligente.com/articulo/9257434/ESPANA-Santander-compraraacute;-el-50-de-su-gestora-y-sacaraacute;-a-Bolsa-Allfunds
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