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Carlos Slim’s Inbursa to Acquire Standard Bank Group’s Brazil Unit
Sunday, March 16, 2014 22:16
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Grupo Financiero Inbursa, the bank controlled by Mexican multi-billionaire Carlos Slim, said it had agreed to acquire the Brazilian unit of South Africa’s Standard Bank Group for approximately $45 million.
The deal is still subject to regulatory approval in Brazil, Mexico and South Africa, Inbursa said in a filing with the Mexican Stock Exchange.
Banco Standard de Investimentos SA “offers a suitable platform for developing the business from its initial phase, in keeping with the principles, criteria and experience” of Grupo Financiero Inbursa, the Mexican bank said.
Inbursa is Mexico’s sixth-largest commercial bank by assets.
Published in Latino Daily News
Source: http://www.hispanicallyspeakingnews.com/latino-daily-news/details/carlos-slims-inbursa-to-acquire-standard-bank-groups-brazil-unit/29375#When:04:04:03Z
