Creating and distributing additional copies is prohibited without the permission of the publisher. Contact

Cash-Hungry Santander Sells Colombia Unit

Dec 7, 2011

Chile’s CorpBanca has agreed to acquire nearly all of Santander’s Colombia unit, in a deal valued at $1.225 billion plus interest. The move marks a substantial sale for the Spanish bank which has been selling assets in LatAm in an effort to bolster the parent’s balance sheet. CorpBanca will acquire a 95% stake for $1.155bn, financed with its own cash and a $450m capital increase from its holding company, the Saieh Group’s CorpGroup Interhold. CorpGroup Interhold also plans to purchase at least an additional 2.85% stake from the remaining 5%....

To continue reading please take a free trial, subscribe or login below.

Already have an account?


Subscribe now for unlimited access to all current and archive news, data and market analysis. 


Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

LatinFinance Events


Will ABS become more interesting for LatAm borrowers as US monetary policy normalizes?


Printing isn't available for this page.