Bank of America announced it is in discussions regarding a potential sale of BankBoston Argentina assets to a consortium led by Johannesburg-based Standard Bank Group Ltd. and the Werthein and Sielecki families of Argentina. BankBoston operations in Brazil, Chile and Uruguay are not affected by these discussions.
Terms of the sale are still under discussion, and agreements are not likely to be finalized until year-end and would be subject to satisfactory completion of due diligence and all necessary regulatory approvals.