Banco Macro S.A. announces that it has entered into a purchase agreement to acquire Banco Itaú Argentina S.A. and its subsidiaries

Rhea-AI Summary

Banco Macro to acquire Banco Itaú Argentina and its subsidiaries for $50 million

Positive

• Banco Macro will acquire 100% of the capital stock and votes of Banco Itaú Argentina and its subsidiaries
• The price of the Agreement is set at $50 million

Negative

• None.

BUENOS AIRES, Argentina, Aug. 24, 2023 /PRNewswire/ -- Banco Macro S.A. (NYSE: "BMA"; ByMA: "BMA") ("Banco Macro" or the "Purchaser") announces that yesterday it has entered into a stock purchase agreement (the "Agreement") with Itaú Unibanco Holding S.A., through its affiliates Itaú Unibanco S.A., Banco Itaú BBA S.A. and Itaú Consultoria de Valores Mobiliários e Participaçoes S.A. (collectively, "Itaú"), pursuant to which, subject to the satisfaction of certain conditions (substantially the approval of the transaction by the Central Bank of Argentina), the Purchaser will acquire from Itaú the shares representing 100% of the capital stock and votes of Banco Itaú Argentina S.A., Itaú Asset Management S.A. and Itaú Valores S.A

The price of the Agreement was set at US$50,000,000, which will be paid on the closing date of the transaction (the "Closing Date"), and an additional amount resulting from a potential adjustment that will be eventually set based on the results obtained by Banco Itaú Argentina S.A., Itaú Asset Management S.A. and Itaú Valores S.A. between April 1, 2023, and the Closing Date.

This press release includes statements concerning potential future events involving Banco Macro that could differ materially from the events that actually occur.  The differences could be caused by a number of risks, uncertainties and factors relating to Banco Macro's business. Banco Macro will not update any forward-looking statements made in this press release to reflect future events or developments.

IR Contact in Buenos Aires:
Jorge Scarinci | Chief Financial Officer
Nicolás A. Torres | Investor Relations
E-mail: investorelations@macro.com.ar | Phone: (54 11) 5222 6682

View original content:https://www.prnewswire.com/news-releases/banco-macro-sa-announces-that-it-has-entered-into-a-purchase-agreement-to-acquire-banco-itau-argentina-sa-and-its-subsidiaries-301909135.html

SOURCE Banco Macro S.A.