Santander Group invests over PLN 1.7 bln in Ebury
Banco Santander became a strategic investor in Ebury, which, among others in recent years has gained the position of the leader of the independent sector of international settlements for companies in Poland. Ebury specializes in the full range of currency exchange and payment services, and has a wide customer base: small and medium-sized companies, medium-sized corporations and banks, as well as non-banking financial institutions.
Under the terms of the transaction, Banco Santander will acquire a 50.1% stake in Ebury for 350 million pounds sterling (i.e. over 1.7 billion zlotys), of which 70 million pounds (almost 350 million zlotys) will contribute Ebury's equity. These funds will be used to continue the rapid development of Ebury and its entry into new markets, primarily Latin America and Asia.
(WBJ)
