Foreigners Close in on CorpBanca

Foreigners Close in on CorpBanca

Chile M&A

CorpBanca may be close to a sale of a stake, perhaps even a majority position, to a foreign bidder. The Chilean bank says it is in discussions to pick the winner and structure the deal – noting that controller Alvaro Saieh’s group will keep “a relevant position,” in the financial group. Itau and BBVA are the likely options, with the Brazilian saying it in is in discussions. If Itau emerges the winner, it is expected to take a majority state, as bank a official earlier said publicly Itau had no i

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