) -- Canadian-based

Bank of Nova Scotia

(BNS) - Get Report

has made a $300 million for investment in two South American lenders.

Advent International

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

Morgan Stanley

(MS) - Get Report

Alternative Investment Partners,

Investment Strategic


Tecevall SA

and the

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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Maria Woehr


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