Market Chatter: Banco Santander Hedged Equity Stake in Credit Agricole Joint Venture

MT Newswires Live09-28 04:57

Banco Santander (SAN) hedged its equity stake in CACEIS, a joint venture with Credit Agricole, to reduce its regulatory burden, Bloomberg News reported Friday, citing people with knowledge of the matter.

The hedge involved a type of put option to offload risk from the 30.5% stake with at least some going to D.E. Shaw, the report said.

D.E. Shaw acquired the risk after Jefferies Financial Group (JEF), acting as the arranger, presented the deal to institutional investors, the report said.

Santander, Credit Agricole and Jefferies declined to comment, and D.E. Shaw didn't reply to emails seeking comment, Bloomberg said.

Santander declined to comment to MT Newswires, and CACEIS, D.E. Shaw and Jefferies didn't immediately respond to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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