Banco Santander Río enters exclusive talks to acquire retail banking unit of Citibank Argentina
Banco Santander Río entra en negociaciones exclusivas para adquirir banca minorista de Citibank Argentina
Intel ID : 240534
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Banco Santander Río (BCBA:BRIO), a Buenos Aires, Argentina-based financial institution, may have entered exclusive talks with Citigroup (NYSE) to acquire the retail banking unit of Citibank Argentina, reported La Nación on 12 September 2016, citing market sources. According to the report, Santander Río is finalizing legal matters regarding the contract to acquire the unit, leaving behind Banco Macro (BCBA:BMA), Banco de Galicia, and BBVA Francés (BCBA:FRAN), which were still in process in early August (see related intel). There is no definite deadline for the closing of negotiations, the report stated. Citigroup launched the sale of the retail banking unit in Argentina in February 2016 (see related intel), along with the units in Brazil and Colombia.
(content in spanish)
Banco Santander Río (BCBA:BRIO), entidad financiera con sede en Buenos Aires, Argentina, habría entrado en negociaciones exclusivas con Citigroup (NYSE:C) para adquirir la unidad de banca minorista de Citibank Argentina, ha publicado La Nación el 12 de septiembre de 2016, citando fuentes del mercado. Según lo publicado, Santander Río estaría ultimando cuestiones legales del contrato de adquisición de la unidad, con lo que ha dejado atrás a Banco Macro (BCBA:BMA), Banco de Galicia y BBVA Francés (BCBA:FRAN), que aún estaban en el proceso a principios de agosto (ver intel relacionado). No existe un plazo definitivo para finalizar las negociaciones, de acuerdo con la información. Citigroup ha puesto a la venta el negocio de banca minorista en Argentina en febrero de 2016 (ver intels relacionados), junto con las unidades de Brasil y Colombia. |
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25.01.04 Consumer Finance 25 Financial Services / 25.01 Banking & Investment |
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25.04.03 Holding Companies / Financial Holding Companies 25 Financial Services / 25.04 Other Financial Services |
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25.01.03 Commercial, Retail & Mortgage Banking 25 Financial Services / 25.01 Banking & Investment 25.01.04 Consumer Finance 25 Financial Services / 25.01 Banking & Investment 25.01.08 Investment Banking & Brokerage Services 25 Financial Services / 25.01 Banking & Investment |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.