Acquisition
Banco Santander Central Hispano SA
8 August 2001
BANCO SANTANDER CENTRAL HISPANO
ACQUIRES OVER 80% OF PROCURADIGITAL
- ProcuraDigital is Latin America's leading electronic services provider to
large corporations
Madrid, August 8th 2001.- Banco Santander Central Hispano, through one of its
majority holdings, has acquired over 80% of ProcuraDigital, Latin America's
leading electronic services provider. ProcuraDigital, which commenced operations
in April 2000, has established itself as a leader in electronic business,
focused on providing comprehensive services to large corporations in Latin
America.
With operations in Miami, Monterrey (Mexico), Sao Paulo and Caracas,
ProcuraDigital serves companies such as CANTV, Telcel Bellsouth, Banespa, Banca
Serfin and Banco de Venezuela, among others. ProcuraDigital offers its customers
electronic tenders, advice on strategic supply and marketplace tools, with the
aim of optimising purchasing processes and reducing procurement costs.
According to Ricardo Ortega, Managing Director of Santander Central Hispano
Investment in Venezuela: 'As customers of ProcuraDigital, the Santander Central
Hispano Group banks in the region have saved over 20% in purchasing costs. We
have faith in ProcuraDigital's team and the soundness of its long-term business
model. We are proud to join the ProcuraDigital team, which has revolutionised
the region's B2B market.'
In the opinion of Leonard Boord, Founding Partner and CEO of ProcuraDigital; 'It
makes a lot of sense having Banco Santander Central Hispano as our partner in
order to continue expanding in the market. It is not just a financial partner
but a strategic one, with an unequalled position in the region. This union
consolidates Banco Santander's commitment to continue handling its supply and
purchasing needs in the region through ProcuraDigital.'
ProcuraDigital
ProcuraDigital is Latin America's leading supplier to large corporations. It
offers the strategic procurement services needed by these companies, adapting
the most appropriate technological tools aimed at reducing costs and
inefficiencies in traditional procurement processes.
In order to assist Latin American companies to make better use of electronic
procurement practices, ProcuraDigital has built a professional team highly
specialised in electronic tenders, strategic supply, technology and consultancy,
offering solutions adapted to the needs of each customer. ProcuraDigital's
customers include Telcel Bellsouth, Banco de Venezuela, Banco Santander Central
Hispano Brasil, Banco Serfin, Alfonzo Rivas & Compania, CANTV, Banespa and Banco
Santander Mexicano. The company has operations in Miami, Caracas, Monterrey and
Sao Paulo.
Banco Santander Central Hispano
Banco Santander Central Hispano is Spain's leading financial group, with
approximately 400,000 million dollars in managed funds on and off balance sheet.
It operates in 42 countries, offering a full range of services to over 36
million customers. It is among the 15 leading banks of the world by stock market
capitalisation and is one of the three largest in the Euro zone.
Furthermore, the Group is the leading financial services franchise in Latin
America, with 116,000 million dollars in assets and an operational presence in
12 countries, 17 retail banking affiliates and 23 million customers. It has a
weighted market share of over 10% and is a leader in mutual fund and pension
fund management.
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