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Argentina's Banco Columbia acquires 50% stake in MSM Leasing

Banco Columbia SA reached a deal to acquire a 50% stake in MSM Leasing, an automotive leasing company, for 653,524 Argentine pesos, according to a regulatory filing dated May 26.

The bank also agreed with the remaining MSM Leasing shareholders to increase the company's share capital by 20 million pesos through a share subscription, under which Banco Columbia will subscribe to shares worth 10 million pesos.

The Argentine bank also agreed to subscribe to future shares worth 4.5 million pesos.

As of May 25, US$1 was equivalent to 16.09 Argentine pesos.