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Santander Has New Partner, Realizes $1 Billion Capital Gain

October 25, 2011

MADRID, SpainSantander Consumer USA announced that Sponsor Auto Finance Holdings Series — an entity owned by Warburg Pincus, Kohlberg Kravis Roberts and Centerbridge Partners — will invest $1 billion in the company. Dundon DFS also will invest approximately $150 million into the company.

Following the transaction, Santander will be valued at $4 billion and will realize a capital gain of approximately $1 billion, which will be fully allocated to reinforce the group’s balance sheet, according to the company. The transaction also will give Grupo Santander a 65 percent stake in Santander Consumer USA; Kohlberg Kravis Roberts, Warburg Pincus and Centerbridge Partners a 25 percent stake; and Dundon DFS a 10 percent stake.

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