The Central Bank sold shares of Standard Bank to ICBC

Argentina, February 23, 2012

Yesterday, the Central Bank of Argentina (BCRA) has authorized the sale of shares from Standard Bank’s to the Industrial & Commercial Bank of China (ICBC). The decision was taken after a meeting between Cristina Kirchner, Marco del Pont and government representatives with Chinese investors. 

While the purchase of $ 700 million was held in August last year, the confirmation of the Central Bank was needed to confirm the negotiation. According to official sources, Chinese businessmen said they will invest in Argentina.

Standard Bank has South African origin and entered Argentina in 2006 when it acquired Bank Boston.

Besides Cristina Fernández and Mercedes Marco del Pont, also participated in the meeting the Finance Minister Hernan Lorenzino and Industry Minister Debora Giorgi.