Santander in talks over asset management stake sale

Santander has confirmed it is "exploring the possibility" of the sale of a stake in its asset management division.

The bank said this morning it is considering "incorporating investors to its asset management division", following recent reports the lender is in exclusive talks with a private equity duo. Earlier this month the Financial Times reported Santander is in advanced negotiations with US private equity firms Warburg Pincus and General Atlantic over the sale of a sizeable stake in the business. The move would be with a view to raising capital and expanding the unit, which has $161bn in assets under management, the paper said. "No agreement has been reached yet for any such investment. Sa...