trending Market Intelligence /marketintelligence/en/news-insights/trending/kkjciei9glyzleox-o24zq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Report: 3 Argentine banks submit offers for Cencosud's local card biz

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Street Talk Episode 70 - Banks' Liquidity Conundrum Could Fuel M&A Activity

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go


Report: 3 Argentine banks submit offers for Cencosud's local card biz

HSBC Bank Argentina SA, BBVA Banco Francés SA and Banco Macro SA have submitted nonbinding offers to acquire Cencosud SA's Argentine credit card operations, El Cronista reported, citing unnamed sources.

According to the report, Goldman Sachs is tasked to sell the Cencosud portfolio, as the Chile-based retailer looks to partner with a bank for its card business. Cencosud declined to comment on the story, El Cronista said.

It was first reported in the fourth quarter of last year that the three bidding Argentine banks were interested in buying Cencosud's Argentine credit card business. A previous report said Cencosud plans to sell 50% of its credit card operations in Argentina and Peru, although this was later denied by the Chilean company.

A CEO of an unnamed Argentine bank previously told El Cronista that the Cencosud deal is a complex transaction. "It is difficult to alienate the interests between a retailer that wants to issue many cards to give cheap credit, versus a bank that seeks to be restrictive and to grant loans only to good customers who do not have credit problems to avoid having delinquency problems," the source reportedly said.

In August 2017, Cencosud said it was looking to divest as much as $1 billion in nonstrategic assets, although it did not indicate which ones would be sold.

In Argentina, Cencosud owns credit card servicer Tarjeta Cencosud.