Advent International Plans to Sell 2 Uruguayan Stakes, WSJ Says

Advent International Corp. plans to sell for more than $300 million stakes in Uruguay’s largest bank, Nuevo Banco Comercial SA, and consumer credit company Pronto! to Canada’s Bank of Nova Scotia, the Wall Street Journal said, citing an unidentified person familiar with the situation.

Advent International will have no investments in Uruguay after selling the stakes, the Journal said. The company still has 40 investments in Latin America, the Journal said.

Advent International declined to comment, the Journal said.

To contact the editor responsible for this story: Peter J. Brennan at pbrennan3@bloomberg.net

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