News & Events zu Banco Macro SA (BMA)BMABanco Macro SA

Banco Macro Acquires 100% Stake in Banco Saenz

Banco Macro S.A. announced that they have entered into a stock purchase agreement with Liliana Monica Fravega, Facundo Fravega and Luciano Gonzalez-Lobo. Pursuant to this agreement, the Purchasers shall acquire, directly and indirectly, 100% of the outstanding capital stock and voting rights of Banco Saenz S.A., subject to the fulfillment of certain conditions precedent. The purchase price to be paid by the Purchasers to the Sellers on the closing date for the acquisition of the shares shall be equivalent to: (i) an amount in Argentine Pesos equal to the shareholders' equity of Banco Saenz S.A., to be determined prior to closing; plus (ii) $2M, subject to any potential price adjustments that may apply in accordance with the Agreement. This strategic transaction is part of Banco Macro S.A.'s expansion into the digital ecosystem and complements its recent entry into Personal Pay-the digital wallet of Personal-developed by Telecom Argentina S.A.. In this context, Banco Saenz S.A. will operate as a banking platform designed to support the growth of such digital solutions, maintaining a distinct operation to ensure agility and flexibility. The closing of the transaction is subject to approval by the Central Bank of the Argentine Republic. Until such approval is granted, Banco Saenz S.A. will continue to operate normally as an independent entity. Consequently, the transaction will not result in any immediate changes for Personal Pay users.

Banco Macro sees a 13.2% increase.

Banco Macro is up 13.2%, or $5.79 to $49.67.