Credicorp Enters Chile with IMTrust Deal

Credicorp Enters Chile with IMTrust Deal

Chile Colombia Peru Andean M&A

Peru’s Credicorp has laid another stone in its plan to build a trans-Andean platform, agreeing to a deal giving it 60.6% of Chilean investment bank IMTrust. The parent of Banco de Credito del Peru, is paying a price equal to 3.5% of its equity, around $122m, according to a Credicorp investor relations official. Almost all of the transaction is to be paid for in cash, with a small portion in shares as a retention mechanism. The deal follows the acquisition of 51% of Colombia’s Correval, and posit

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