Banco Macro S.a. Announces A Purchase Agreement With Itaú Unibanco Holding S.A To Acquire Banco Itaú Argentina S.a. And Its Subsidiaries
Portfolio Pulse from Benzinga Newsdesk
Banco Macro S.A. (NYSE: BMA) has announced a stock purchase agreement with Itaú Unibanco Holding S.A. to acquire 100% of the capital stock and votes of Banco Itaú Argentina S.A., Itaú Asset Management S.A. and Itaú Valores S.A. The transaction is subject to approval by the Central Bank of Argentina.
August 24, 2023 | 11:02 am
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POSITIVE IMPACT
Banco Macro's acquisition of Banco Itaú Argentina and its subsidiaries could potentially expand its market share and operations in Argentina, subject to regulatory approval.
The acquisition of Banco Itaú Argentina and its subsidiaries by Banco Macro could potentially expand its market share and operations in Argentina. However, the transaction is subject to regulatory approval, which introduces an element of uncertainty. If approved, this could have a positive impact on Banco Macro's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100