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1004GMT 17March14 - Standard Bank up, to sell Brazil unit
Shares of Standard Bank rise 2.3 percent to 127.10 rand after Africa’s biggest bank says it will sell its Brazilian unit to billionaire Carlos Slim’s Grupo Financiero Inbursa SAB.
The $45 million deal will see Inbursa take over Banco Standard de Investimento, in a key step to expand outside its home market of Mexico.
Standard Bank has been selling off its assets outside of Africa to focus on expanding its business on the continent.
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