Banco Santander Central Hispano to Acquire 75% of Patagon.com, the Americas' First Financial Portal.Business Editors/High-Tech Writers NOTE TO MEDIA: Photos are available in a Smart News Release(TM) on Business Wire's Home Page at http://www.businesswire.com/cgi-bin/photo.cgi?pw.030900/bb8 MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. & MADRID, Spain--(BUSINESS WIRE)--March 9, 2000 -- The transaction is the first step in the Banco Santander Central Hispano's global strategy in the field of telecommunications and Internet -- Patagon.com's management team will continue to run the financial portal -- The European portal's development strategy will be announced in the coming weeks Patagon.com (www.patagon.com), the largest financial portal Financial Portal A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. on the Internet in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , today announced that Banco Santander Central Hispano will acquire control of Patagon.com as the first step in its global expansion strategy in the field of telecommunications and Internet. The Bank will acquire the interests of all of the financial investors in Patagon.com, including Chase Capital, JP Morgan and Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , and will maintain all of its employees as shareholders. Patagon.com is a US corporation, with headquarters in Miami. It is the largest financial portal on the Internet in Latin America, with a significant presence in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , covering a potential market of 500 million. Patagon.com currently has specific portals for the primary countries in Latin America (Brazil, Mexico, Venezuela, Chile and Argentina), offering financial supermarket Financial Supermarket A company offering a wide range of financial services (e.g. stock, insurance and real-estate brokerage). Notes: For the consumer, a financial supermarket can offer convenience and efficiency, since his/her money is not being continually shifted from services, market information, securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the , as well as chat rooms serving 40,000 members. Patagon.com currently generates over fifteen million page visits per month. Banco Santander Central Hispano, which valued Patagon.com at US$705 million, will hold 75% of the Americas' largest global Internet financial portal. The remaining 25% will be held by the founding group of professionals, led by Wenceslao Casares and Daniel Canel. Patagon.com's current chairman and acting director, Wenceslao Casares, and the management team led by Daniel Canel, including executives such as Gabriel Politzer and Guillermo Kirchner, will manage the financial portal. With this acquisition of the US group, Banco Santander Central Hispano, the first Latin American banking franchise with a presence and leadership in twelve countries in the region and with over 24 million clients worldwide, will incorporate one of the most successful Internet companies, with a strong management team, and with the goal of becoming the undisputed world leader in online financial services. This agreement is subject to the processes of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and regulatory authorizations. |
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