Spanish bank Santander is negotiating sale terms of a stake in its Asset Management unit, with potential buyers, reports Reuters.
Santander CEO, Alfredo Saenz, reportedly, said: "We can confirm that we are in talks with potential buyers." Saenz added that the talks were "at an early stage".
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Earlier in April, santander announced plans of a stake sale in its AM unit, which manages approximately EUR153 billion (US$199 billion) of assets ranging from pension funds to real estate
The euro zone’s biggest bank posted a 25.9% drop in net profit from a year ago to EUR1.205 billion.
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