Banco Bisel acquires controlling equity interests in Banco Acac

On September 27 Banco Bisel SA, an Argentine bank controlled by Caisse Nationale de Crédit Agricole, acquired an equity interest of 49.14 per cent in Banco ACAC SA, a Uruguayan retail bank which was controlled by Cooperativa Acac (70 per cent) and Caisse Nationale Crédit Agricole (30 per cent). The transaction involved a capitalisation of US$13 million. Following the acquisition Banco Bisel SA and Caisse National de Crédit Agricole hold a controlling equity interest in Banco ACAC SA.