Pérez Alati advises buyer in privatisation of major provincial bank

The province of Córdoba (Argentina's second-largest province) has initiated the privatisation of its governement-owned financial institution, Banco de Córdoba, the province's largest bank, through the sale of 89 per cent of shares in the bank. On August 31, the Province of Córdoba pre-awarded this controlling interest in the context of a public bidding to Banco General de Negocios SA (BGN), which made an offer of US$117 million.