UK Markets closed

Santander, UK broker Peel Hunt to offer joint fundraising services

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: A logo of Santander, the euro zone's largest lender by market value, is seen on a branch in the Andalusian capital of Seville
  • Oops!
    Something went wrong.
    Please try again later.

MADRID (Reuters) - Spain's Santander and British broker Peel Hunt on Monday announced an agreement to offer services of corporate fundraising to support increasing merger and acquisition activity and bolster companies balance sheets.

Under the agreement, exclusive to Peel Hunt's clients in Britain, the brokerage will be able to offer access to underwriting from Santander to customers looking to raise capital on markets, while Santander will be able to access Peel Hunt's client base, both companies said in a statement.

The deal would also include secondary offerings, including sales of stakes by major shareholders, but not initial public offerings (IPOs).

(Reporting by Jesús Aguado, Editing by Inti Landauro and Angus MacSwan)