Agreement with an Apollo fund

RNS Number : 9129W

Banco Santander S.A.

03 January 2014

 



MATERIAL FACT

Further to the information reported on 21^st November 2013, Grupo Santander hereby announces the sale to Altamira Asset Management Holdings, S.L., a company participated by Apollo European Principal Finance Fund II, an affiliate of Apollo Global Management LLC (Apollo), of 85% of the share capital of Altamira Asset Management, S.L., a company engaged in the recovery of contentious stage loans in Spain and the sale or rental of foreclosed real estate assets originating from such activity.

The sale amounts to 664 million euros. The transaction generates a gross capital gain of 550 million euros (385 million euros after tax).

Boadilla del Monte (Madrid), 3rd January  2014

 

END

 

 

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