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Mercantil Servicios Panamanian division acquires Swiss unit

Panama-based Mercantil Servicios Financieros Internacional SA has taken ownership of Switzerland's Mercantil Bank (Schweiz) AG from Venezuela-based parent Mercantil Servicios Financieros CA, according to a Sept. 9 filing.

The Panamanian entity, which recently registered to list its shares on Panama's BVP stock exchange, said that it acquired 100% of the Swiss unit's shares through its Mercantil Holding Financiero Internacional SA subsidiary.

The move comes after the Venezuelan parent completed a spinoff of Florida-based Mercantil Bank Holding Corp. earlier this year.