March 28, 2017 / 11:33 AM / a year ago

Qatar Holdings to sell 80 mln units of Santander Brasil in offering

SAO PAULO, March 28 (Reuters) - Qatar Holdings LLC has put up to 80 million units of Banco Santander Brasil SA up for sale in a restricted efforts offering in Brazil and overseas, after shares of Brazil’s No. 3 private-sector bank more than doubled over the past year.

In a Tuesday securities filing, Santander Brasil said the offering will be underwritten by its investment-banking unit, alongside those of Bank of America Corp and Credit Suisse Group AG. At current prices, the offering could raise as much as 2.8 billion reais ($895.7 million) for Qatar Holdings LLC, an investment firm controlled by the Gulf state’s government.

Public offerings with restricted efforts differ from standard equity offerings in that a company does not have to request registration of the plan with securities industry watchdog CVM. Only qualified investors can participate in such offerings, and the deals cannot be marketed through road shows or the media. ($1 = 3.1261 reais) (Reporting by Bruno Federowski and Guillermo Parra-Bernal; Editing by)

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