Banco Santander Río withdraws IPO

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Banco Santander Río S.A., the largest private-sector bank in Argentina in terms of private-sector loans and deposits, withdrew its plans for an initial public offering on Friday. The bank, which had total income of over $1 billion in 2010, filed for a $100 million IPO in May 2011. Santander Investment, BofA Merrill Lynch and J.P. Morgan were set to be the joint bookrunners on the deal.

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