Cartica keeps up CorpBanca-Itau criticism after details released

Cartica keeps up CorpBanca-Itau criticism after details released

M&A

Cartica Capital has raised new concerns over details in the CorpBanca-Itau Chile merger, after the deal’s shareholder and transaction agreements were published on Friday. The Washington-based fund manager pointed to an obligation for Itau to buy more shares from CorpBanca’s main shareholder CorpGroup if dividends paid by the Chilean bank fall below $370m annually over the next 8 years. A spokesperson for CorpBanca said this was “a liquidity mechanism agreed in the framework of all the covenants

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