Scotia Makes Colombia, Mexico Buys

Scotia Makes Colombia, Mexico Buys

Colombia Mexico M&A Canada

Scotiabank continues to expand in the LatAm, with a pair of small but strategic buys in Colombia and Mexico. The Canadian bank has agreed to buy a 51% stake in Colfondos AFP from the Colpatria holdco. The deal follows last year’s $1bn buy of 51% of Colpatria itself, though Scotia says Tuesday’s is a separate transaction. Colfondos is the fourth-largest out of five pension funds in Colombia, accounting for about 10% of the assets under management, but people following the sector point to strong g

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