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Qatar Investment Authority to sell 40 per cent of Santander Brasil stake

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Qatar Investment Authority (QIA) has launched a secondary public offering of its American depositary shares (ADSs) of Santander Brasil. 

QIA holds approximately 5.5 per cent of the total outstanding shares of Santander Brasil and intends to sell approximately 40 per cent of its position.
 
This transaction forms part of the routine portfolio management activities undertaken by QIA from time to time. QIA has been an investor in Santander Brasil for close to seven years and, following the completion of this offering, expects to remain the second largest shareholder of Santander Brasil after Banco Santander SA.
 
In connection with the offering, QIA has agreed to enter into a customary lock-up. The offering will be underwritten by BofA Merrill Lynch, Credit Suisse and Santander Investment Securities.

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