World Business Briefing | Europe: Spain: Bank Acquires American Auto Lender
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Banco Santander Central Hispano, SpainÂs biggest bank, agreed to buy 90 percent of Drive Financial Services of Dallas for $651 million, gaining a presence in 35 states with what is its first consumer finance move into the United States. The bank will buy the unit from HBOS, a British mortgage lender, and the management of Drive Financial. Santander will also pay as much as $175 million to some of Drive FinancialÂs management if the company meets goals in the next two years. Drive Financial offers financial services through 10,000 car dealers and had $2.4 billion of loans in August.
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Bank of America is to become the largest US private banking firm, with the acquisition of Charles Schwab's US Trust.
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AMSTERDAM/LONDON  - A consortium led by Royal Bank of Scotland  has launched a 71.1 billion euro ($95.9 billion) bid for Dutch group ABN AMRO, trumping Britain's Barclays in a battle for the world's biggest bank takeover.
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BBVA, Spain's second-largest bank, said Tuesday it has agreed to buy Texas-based Laredo National Bancshares for &#36;850 million in cash as part of a strategy to gain a greater share of the U.S. Hispanic market.
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LONDON (CBS.MW) -- Banks were one of the better performing sectors on the Continent Wednesday as Spain&#39;s Banco Santander increasingly looked like it will be successful in taking over Britain&#39;s Abbey National.
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Spain's BBVA has agreed to buy U.S. bank Compass Bancshares Inc. for $9.6 billion in cash and shares, realizing a long-held goal to gain a solid footing in the United States.
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Spanish bank Santander claimed victory for its 8.7 billion pound ($15.6 billion) agreed takeover of Britain&#39;s Abbey National after its most likely rival, UK bank HBOS, pulled out of the race.
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Bank of America Corp said on Friday it agreed to acquire battered mortgage lender Countrywide Financial Corp in a $4 billion transaction that could help avert one of the biggest collapses from the U.S. housing crisis.
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Spanish banking giant Banco Bilbao Vizcaya Argentaria (BBVA) said in a filing with securities regulators Tuesday it was acquiring US-based Laredo National Bancshares (LNB) for $850 million.
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Bank of America Corp  on Friday said it has won approval from the U.S. Federal Reserve for its $21 billion acquisition of LaSalle Bank Corp from Dutch bank ABN AMRO Holding NV .
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Santander Central Hispano SA, Spain&#39;s largest bank, said Francisco Gomez-Roldan will replace Luqman Arnold as chief executive officer of Abbey National Plc, the UK mortgage lender it&#39;s buying for 9.1 billion pounds ($16.
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Bank of America Corp. said Friday it has agreed to buy Countrywide Financial for $4 billion in stock, a deal that both rescues the country's largest mortgage lender and expands the financial services empire of the nation's largest consumer bank
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BBVA bank, the second-biggest Spanish bank, said it has reached an agreement to buy Texas-based US bank Compass Bancshares for 9.6 billion US dollars (7.4 billion euros).
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SANTANDER Central Hispano, the Spanish bank that last year bought Britain - s Abbey National, yesterday sold its last shares in Royal Bank of Scotland, its partner of 16 years.
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Royal Ahold NV, the food retailer that owns the US Giant chain, agreed to sell its Spanish business to Permira funds for 685 million euros ($851 million).
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Banco Bilbao Vizcaya Argentaria SA, Spain&#39;s second-biggest bank, said it created a private equity fund that will invest as much as $500 million in US companies with links to the Hispanic community.
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Banco Bilbao Vizcaya Argentaria SA, which agreed to buy Laredo National Bancshares Inc. for $850 million, plans to keep Chairman Gary Jacobs in place at the Texas- based lender and to back his expansion strategy.