M&A: Brazil
Key Facts
—Value. Itaú Unibanco put the net value of the transaction at approximately R$2.5 billion, covering a R$9.7 billion credit portfolio and R$7.2 billion in deposits transferred at book value.
—Buyer. Banco de Bogotá S.A., the flagship bank of Grupo Aval, Colombia’s largest financial conglomerate, acquired the business; its Panamanian sister entity, Banco de Bogotá (Panamá) S.A., took the smaller cross-border book.
—Targets. The deal covers only the retail, or “persona natural,” banking units of Banco Itaú Colômbia S.A. and Banco Itaú Panamá — savings accounts, consumer loans, mortgages and credit cards for roughly 267,000 customers.
