May 13, 2020 |
Colombian financial holding company Grupo Aval said it has lowered the purchase price for Panamanian lender Multibank by 39% and plans to conclude the acquisition before the end of the month.
Grupo Aval said in October last year that its subsidiary Banco de Bogotá had agreed to buy Multibank Financial Group (MFG) for an undisclosed amount. In March this year, Grupo Aval CEO Luis Carlos Sarmiento Gutiérrez said the company planned to spend around $700 million for Multibank, using around $200 mill
Colombian holding company pays 39% less for the Panamanian lender and expects to conclude the acquisition this month