Business Services Industry
PNC Financial Services Group
Latin Trade, Oct, 2004
PNC FINANCIAL SERVICES GROUP, a U.S. financial services institution, said it would purchase Riggs Bank, a U.S. bank, for US$779 million in stock and cash despite a congressional probe into Riggs' alleged concealment of millions of dollars for Chile's former dictator Augusto Pinochet. PNC said it was planning to divest the international unit of Riggs Bank that is under investigation and focus on U.S.
retail banking.
COPYRIGHT 2004 Freedom Magazines, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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