Announced
Financials
Tags
Acquisition
Argentina
Banks
Private
banking products
Minority
Synopsis
Standard Bank, a South African financial services group, sold a 20% stake in ICBC Argentina to ICBC, a Chinese multinational banking company, for $181m. With the transition of control of ICBCA to ICBC an unqualified success, Standard Bank Group considers that an exit from its investment in ICBCA to realise capital for reinvestment into its African strategy is appropriate.
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