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Banca Intesa to sell Uruguay business for Credit Agricole at $1
Milan, Nov 29: Banca Intesa, Italy`s leading bank, said it had accepted an offer from French bankCredit Agricole to acquire its banking activities in Uruguayfor a symbolic one dollar.
Milan, Nov 29: Banca Intesa, Italy`s leading
bank, said it had accepted an offer from French bank
Credit Agricole to acquire its banking activities in Uruguay
for a symbolic one dollar.
The French group`s Uruguayan subsidiary Banco Acac
Credit Agricole will buy the businesses held by Banca Intesa
subsidiary Sudameris, the Italian bank said in a statement.
The French bank is Banca Intesa`s principal shareholder, with a stake of 15 percent.
Banca Intesa said it would take a charge of 30 million Euros for the operation, a provision already included in its accounts for the first nine months of 2003.
Bureau Report
The French bank is Banca Intesa`s principal shareholder, with a stake of 15 percent.
Banca Intesa said it would take a charge of 30 million Euros for the operation, a provision already included in its accounts for the first nine months of 2003.
Bureau Report