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Report: Raymond James to sell Uruguay units to local partner

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Report: Raymond James to sell Uruguay units to local partner

Raymond James Global Securities Ltd., a subsidiary of , reacheda definitive agreement to sell its retail operations in Uruguay — namely, RaymondJames Latin Advisors and Raymond James Uruguay — to Riverding Financial LCC, El País reported, citing a May 5 statementfrom Riverding.

Riverding Financial is controlled by Eduardo Tapia, the formerCEO of Raymond James Argentina Sociedad de Bolsa SA. Terms of the deal were notdisclosed.

The deal is pending regulatory approval and a closing date willbe set when all conditions for the sale are met, the report noted.