Grupo Supervielle S.A. Agrees to Acquire Auto Loan Company Micro Lending S.A.
Grupo Supervielle S.A. American Depositary Shares each Representing five Class B shares (SUPV)
Last grupo supervielle s.a. american depositary shares each representing five class b shares earnings: 2/19 04:38 pm
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Source: Business Wire
Expands into the Car Loan Segment BUENOS AIRES, Argentina--(BUSINESS WIRE)-- Grupo Supervielle S.A. (NYSE:SUPV);(BYMA:SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, announced today that it has agreed to acquire 100% (or 4,000,000 ordinary shares) of the share ownership of Micro Lending S.A. (“MILA”) for a cash price of US$20 million, subject to final adjustments. Specialized in car financing, particularly for used cars, MILA is estimated to rank 4th in the Argentine new and used car loan market, holding a total market share of approximately 6%, or 10% when considering the used car market on a stand-alone basis. Patricio Supervielle, Grupo Supervielle's Chairman and CEO, noted: “We believe the acquisition of MILA will allow us to complement our product offering and play a relevant role in the attractive car loan market
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