November 4, 2019 / 10:11 AM / 13 days ago

Santander in £350 mln deal for stake in UK's Ebury

MADRID, Nov 4 (Reuters) - Santander has taken a 350 million pound ($453 million) majority stake in UK-based Ebury as part of a digital strategy to boost growth through new ventures, the Spanish bank announced on Monday.

Ebury is a trade and foreign exchange facilitator for small and medium-sized companies which operates in 19 countries and 140 currencies, Santander said in a statement.

Santander said it is acquiring 50.1% of Ebury for 350 million pounds, of which 70 million will be new primary equity to support Ebury’s plans to enter new markets in Latin America and Asia.

$1 = 0.7734 pounds Reporting By Jesús Aguado, editing by Ashifa Kassam

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