Banco Santander Raises Its Exposure to First Brands and Related Companies to $300 Million

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The exposure of Banco Santander to the bankruptcy of the First Brands automotive group and its former executive director, Patrick James, could be greater than was known so far, since it could include a company in France and a credit line in Mexico and Brazil. According to 'The Wall Street Journal' and collects 'Bloomberg', the scope could reach 300 million dollars (about 260 million euros) if related companies are taken into account. Deva Capita…

L'AGEFI

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Patrick James' failure to pay on a French car manufacturer inflates the bill of the main Spanish bank to some $300 million.

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Market Consensus Alphavalue / Divacons The Cantabrian bank raised its financial exposure to First Brands, an American automotive component company currently in bankruptcy, to 300 million dollars (about 260 million euros) and its founder, Patrick James. This figure was confirmed by financial sources to Europa Press, following news from The Wall Street Journal. Banco Santander’s exposure to the bankruptcy of the First Brands Group includes a comp…