Spanish group BSCH - BANCO SANTANDER CENTRAL HISPANO has taken over control of BANESPA, the State bank of São Paulo, for the sum of 7 billion reals ($3.7 billion), thus becoming the third largest private bank in Brazil. BSCH, which holds assets of $14.47 billion in Brazil with over 500 agencies and 5,000 employed, surprised everyone by proposing 281% more than the ceiling price fixed at $973 million for 30% of the shares.