ICBC Wins Argentine Approval for Standard Bank Deal, Xinhua Says

Industrial & Commercial Bank of China Ltd. received the Argentine central bank’s approval for its purchase of an 80 percent stake in Standard Bank Group Ltd.’s Argentine unit, Xinhua News Agency reported, citing the Chinese lender.

That was the last approval needed for the acquisition, Xinhua said today, citing an unidentified official with the Beijing-based bank.

--Zhang Dingmin. Editors: Dylan Griffiths, Chad Thomas.

To contact Bloomberg News staff for this story: Zhang Dingmin in Beijing at dzhang14@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

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