CLOSE X
Advertisement

Standard Bank gains, sells Brazil unit

Companies

Johannesburg - Shares of Standard Bank rise 2.3 percent to 127.10 rand after Africa's biggest bank says it will sell its Brazilian unit to billionaire Carlos Slim's Grupo Financiero Inbursa SAB.

The $45 million deal will see Inbursa take over Banco Standard de Investimento, in a key step to expand outside its home market of Mexico.

Share this story

Standard Bank has been selling off its assets outside of Africa to focus on expanding its business on the continent. - Reuters

Share this story
Advertisement
X