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Article: Standard Chartered Closes Latin American Deal.
- Article from:
- Business Wire
- Article date:
- January 9, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--Jan. 9, 1998--Standard Chartered PLC, the British-based international banking group, has announced that regulatory and other approvals have been received for its purchase of 67.3 percent of Banco Exterior de los Andes y de Espana SA (Extebandes) for US$165 million in cash. The proposed deal was first announced on Nov. 21, 1997.
Extebandes, which has 525 employees, was established in 1980 to foster regional trade, and has been bought from government- controlled entities, banks and central banks in Latin America and Spain. The largest of these, Fondo de Inversiones of Venezuela, retains its 32.7 percent shareholding.
The ...