Bloomberg News

Santander Consumer Finance Creates Auto Financing JV in China

December 14, 2011

Dec. 14 (Bloomberg) -- Santander Consumer Finance SA signed an agreement with Chinese auto maker Anhui Jianghuai Automobile Co. Ltd, or JAC, to create an auto-financing joint venture.

The unit of Banco Santander SA and JAC will each have a 50 percent stake in the venture, which will have initial capital of about 58 million euros, the Spanish bank said in an e-mailed statement today.

To contact the editor responsible for this story: Emma Ross-Thomas at erossthomas@bloomberg.net


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