NEW YORK (
) -- Canadian-based
Bank of Nova Scotia
has made a $300 million for investment in two South American lenders.
agreed to sell its 54.92% stake in
Nuevo Banco Comercial
, a Uruguay-based lender and an 80% stake in
, a Uruguay-based credit company.
Advent, a Boston-based private equity group, sold the stakes for over $300 million according to a
The Wall Street Journal
report. An Advent spokeperson confirmed the deal but would not reveal the price.
Other investors in Nuevo Banco Comercial are
Alternative Investment Partners,
Netherlands Development Finance Company
Advent International owned its stake in Pronto! with
Grupo de Servicios y Transacciones S.A.
--Written by Maria Woehr in New York.
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