UAE invests in Santander’s Brazil arm

An Abu Dhabi state-linked investment fund has invested $328m in depositary shares issued by Banco Santander’s Brazilian unit, the group said. Sunday’s deal is the latest in a string of diverse transactions by Aabar Investments, one of the emirate’s most active and ambitious funds this year. The investment follows Banco Santander’s $8.1bn IPO of its Brazilian unit. Publicly-listed Aabar began as a small energy company but was taken over and transformed by the UAE state-owned investment company IPIC.