This content is from:APP亚博娱乐

ICBC To Buy Standard Bank Unit Stake

African lender, Standard Bank, is planning to sell a majority stake in its Argentine business.

    African lender, Standard Bank, is planning to sell a majority stake in its Argentine business,Reutersreports, citingClarin Argentina. The bank will sell its stake to Industrial and Commercial Bank of China (ICBC) for around $700 million.

    As a part of the deal, ICBC will acquire 75% shares in the Standard Bank unit. ICBC owns a 20% minority shareholder stake in Standard Bank.

    Click here for the story fromReuters.

    Click here for additional coverage fromBloomberg.

    Related Content