Santander to Invest $67 Million in Ebury in Centerbridge-led Funding Rounds
Details of Santander's Investment and Funding Rounds
Overview of the Investment
April 30 (Reuters) - Santander will invest 50 million pounds ($67.4 million) in its international payments fintech Ebury, as part of funding rounds totaling 550 million pounds, the Spanish banking giant said on Thursday.
Consortium and Shareholder Structure
The funding rounds are being conducted by a group comprising Centerbridge Partners, alongside existing shareholders Santander, Vitruvian Partners and 83North, with Santander remaining as Ebury's majority shareholder with a 55% stake, it said.
Transaction Details
The rounds will be carried out in two separate transactions, and the proceeds will be used to accelerate growth with a focus on "scaling the business and enhancing AI capabilities to improve payment processing".
Financial Impact and Timeline
The funding is expected to generate around 4 basis points of common equity Tier 1 at group level and be completed no later than the first quarter of 2027.
Background and Market Context
Centerbridge's Interest in Ebury
In March, Sky News reported that Centerbridge was eyeing a Ebury stake after the payments firm stalled a London stock market listing.
Exchange Rate Reference
($1 = 0.7416 pounds)
(Reporting by Joao Manuel Mauricio in Gdansk; editing by Jesús Aguado and Andrei Khalip)
