SECURITIES AND EXCHANGE COMMISSION
Commission File Number: 001-34476
Bloco A – Vila Olimpia
São Paulo, SP 04543-011
Federative Republic of Brazil
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BANCO SANTANDER (BRASIL) S.A.
Taxpayer’s ID (“CNPJ”): 90.400.888/0001-42
Company Registry (“NIRE”): 35.3.00332067
Authorized Public Company
ANNOUNCEMENT
BANCO SANTANDER (BRASIL) S.A. (“Santander Brasil”) hereby announces to the market that, in furtherance of the partnership entered into between Banque PSA Finance (“Banque PSA”) and Santander Consumer Finance for the joint operation of the vehicle financing business related to PSA brands (Peugeot, Citroën and DS) in Europe, on this date Santander Brasil entered into binding agreements for the formation of a Joint Venture (“JV”) in Brazil with Banque PSA to locally offer a range of financial and insurance products to consumers and distributors of the PSA brands.
The main vehicle of the JV shall be Banco PSA Finance Brasil S.A., which shall be held in the proportion of fifty per cent (50%) by a wholly owned subsidiary of Santander Brasil, and fifty per cent (50%) by Banque PSA. The acquisition shall be carried out for the proportional book value on the closing date.
The transaction also contemplates the acquisition, by subsidiaries of Santander Brasil, of hundred per cent (100%) of PSA Finance Arrendamento Mercantil S.A. which purchase price shall be equivalent to seventy four per cent (74%) of its book value on the closing date, and, of fifty per cent (50%) of PSA Corretora de Seguros e Serviços Ltda., arm of PSA Group in Brazil for the offer of insurance products which purchase price shall be equivalent to the proportional book value on the closing date.
Upon the implementation of the JV, Santander Brasil shall have access to PSA Group’s distribution network in Brazil for the offer financial products to consumers, especially in the vehicle-financing sector.
The closing of the transaction shall be subject to the fulfillment of certain conditions precedent usual in similar transactions, including obtaining the applicable regulatory approvals.
Santander Brasil shall maintain its shareholders and the market informed regarding new facts related to this subject.
São Paulo, July 24, 2015.
Angel Santodomingo
Investor Relations Officer
Banco Santander (Brasil) S.A. | ||
By: | /S/ Amancio Acurcio Gouveia | |
Amancio Acurcio Gouveia Officer Without Specific Designation | ||
By: | /S/ Angel Santodomingo Martell | |
Angel Santodomingo Martell Vice - President Executive Officer |