Macro Bansud Gets Approval For Bisel Buy

Argentine high-growth, private bank Macro Bansud has received approval from Argentina’s central bank for its acquisition of Nuevo Banco Bisel, which it agreed to buy for $268 million. Macro Bansud outbid local bank Hipotecario in April for the Rosario-based bank that specializes in the agriculture sector. Banco Bisel, formerly a subsidiary of France’s Credit Agricole, was taken over by the government in the wake of the 2001 economic crisis in Argentina and Credit Agricole’s pull-out from the country.