Sura, Scotia Split BBVA Peru Pension

Sura, Scotia Split BBVA Peru Pension

Colombia Peru M&A Canada

BBVA has agreed to sell its BBVA Horizonte Peru pension fund for $544m, it says, to Grupo Sura and Sctotia’s Profuturo. The pair of buyers will each take 50% of the last of the four pensions the Spanish bank had been looking to sell. The value includes a $516m price and a $28m dividend. Horizonte manages about $9bn of deposits in Peru. BBVA has exited from its Chilean, Mexican and Colombian pensions since October, as part of a planned divesture. Colombia’s Sura, for its part, has expanded, throu

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