DEAL OF THE YEAR: Cross-Border M&A Deal

DEAL OF THE YEAR: Cross-Border M&A Deal

Chile Colombia Mexico Peru M&A Uruguay Corporate & Sovereign Strategy

European financial institutions have been retreating from Latin America and selling what are often some of their most valuable assets to raise funds. Other international players – even some Europeans in better shape – have been picking them up, as have cash-rich LatAm players with regional ambitions. When ING’s LatAm pension fund assets came up for sale, the winner was not supposed to be a Colombian company that few outside the region had heard of. The resulting $3.8 billion sale was notable not only for coming against the odds, but giving Grupo de Inversiones Suramericana, or Grupo Sura, the platform for continued regional expansion. “It was a very competitive process,” says David Boja

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