Deals
Standard Bank Argentina Stake Sale to China’s ICBC Delayed
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Standard Bank Group Ltd., which expected to close the sale of a stake in its Argentine unit to Industrial & Commercial Bank of China Ltd. by June, said the deal may not conclude before year-end on regulatory hurdles.
“We’re disappointed it didn’t close in the first half and we’ll do it as fast as we can,” David Munro, chief executive officer for corporate and investment banking at Standard, said in a telephone interview from Johannesburg on Sept. 14.