March 12, 2019 |
Spanish bank BBVA stands to earn $500m from the sale of Forum, its car financing business in Chile, LatinFinance has heard.
"This will be a pretty big transaction," said an M&A banker in Santiago.
Forum is one of the largest car lenders in Chile with earnings above $50m per year, he added.
Companies are going for roughly 10x earnings in Chile's M&A market, which means the Forum sale could be worth roughly $500m, the banker said.
JPMorgan is in charge of selling the company, the only asse
Spanish bank could earn $500m from selling its car financing business in Chile