Wednesday , December 8 2021

The US Fund purchased 51% of Prisma for $ 725 million


so 70% of the payment of electronic money in Argentina will be controlled by a US company, which pays the payment of the shares to the Argentinian banks that constitute Prisma. The agreement, as confirmed by the Clarinet newspaper, was announced in the coming days.

The government had informed in March 2017 that the company prism, license holder of Visa Credit Card, had submitted a proposal for "divestment" to the National Commission for Defense of Competition (CNDC).

prism It is owned by 14 private banks, and the only administrator of the cards visa and Banelco.

CNDC made recommendations to the Ministry of Trade and the Central Bank to promote competition in this market for all commercial transactions, so the government demanded that the banks be sold by monopolistic position.

The deadline set by the National Commission for Defense of Competition for banks to implement this divestment expires on January 23, 2019.

In addition to giving up control over Prism, banks now have three years to refrain from 49% of the remaining shares.

The financial units that control Prisma are investing with Advent as a partner, The company is valued at the $ 1 420 million that the company valued for this transaction.

Advent is a fund based in Boston (USA) and has already made other investments in Argentina. It had shares (already sold) in the Fada Pharma and LKM laboratories, Graffigna Winery, Medical Assistance Company Universal Assistance and OCA Postcard. In the region, it has investments in Peru, Colombia and Brazil.

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