ICBC/Argentina

ICBC buys entry to Argentine market

ICBC shells out $600 million for an 80% interest in Standard Bank Argentina and two affiliates, in the first deal that sees a Chinese lender venture into Latin America.

Sameera Anand

August 08, 2011

Industrial & Commercial Bank of China (ICBC) said on Friday it had struck a deal to buy a controlling interest in Standard Bank Argentina as well as some other related assets in the Latin American country for $600 million.

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