Grupo Aval lowers purchase price for Multibank

Grupo Aval lowers purchase price for Multibank

M&A Bonds Debt Colombia Panama Central America Andean

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

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial