January 23, 2019 |
Advent International said it has agreed to buy 51% of the Argentine credit card company Prisma Medios de Pago from Visa and 14 local banks.
The deal, which is expected to close at the end of the month, values Prisma at $1.42bn, Advent said in a statement.
Economic Policy Secretary Miguel Braun had tweeted earlier in the day that Advent agreed to spend more than $700m for a majority stake in Prisma. Braun also said the banks had decided to sell their stakes in Prisma at the urging of the antitrus
US private equity firm spends more than $700m to buy a majority stake in Prisma from Visa and 14 banks