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Galicia adjusts prices of Compañía Financiera, Cobranzas y Servicios stakes

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Galicia adjusts prices of Compañía Financiera, Cobranzas y Servicios stakes

Banco de Galicia y Buenos Aires SA on Feb. 2 completed the sale of its stakes in Compañía Financiera Argentina SA and Cobranzas y Servicios SA and proposed price adjustments to the new owners, Julio Alfredo Fraomeni and Galeno Capital SAU.

In a regulatory filing, Banco Galicia said it proposed the amount of 1.01 billion Argentine pesos for the shares in Compañía Financiera and 21.5 million pesos for the Cobranzas y Servicios stake, for which the buyers have 45 days to object.

Meanwhile, the parent company of Banco Galicia, Grupo Financiero Galicia SA, said it proposed the adjusted price of 31.3 million pesos for its 3% stake in Compañía Financiera, which it also sold to the same investors.

As of Feb. 5, US$1 was equivalent to 19.51 Argentine pesos.