BANCOLOMBIA S.A. Medellin, Colombia, December 30, 2015
Bancolombia Panama S.A., a subsidiary of Bancolombia, closed today its acquisition of an additional 20% of the common stock, which will represent a controlling stake of 60%, in Grupo Agromercantil Holding S.A. ("GAH"), a Panamanian company that owns the Conglomerado Financiero Agromercantil of Guatemala, which includes among others Banco Agromercantil of Guatemala ("BAM").
The purchase price paid today to the sellers is equal to USD 151,500,000 and is subject to adjustments based on the final profits for the fiscal year as determined by the audited consolidated financial statements of GAH as of December 31, 2015.
Prior to closing the transaction, the parties obtained the requisite regulatory approvals.
Contacts Jaime A. Velásquez | Jose Humberto Acosta | Alejandro Mejía |
Strategy and Finance VP Tel.: (574) 4042199 | Financial VP Tel: (571) 4885934 | IR Manager Tel.: (574) 4041837 |
Bancolombia SA issued this content on 2015-12-30 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-14 08:12:10 UTC
Original Document: http://www.grupobancolombia.com/wps/wcm/connect/bc52a5ff-2b67-447e-b581-3568e0e38942/Grupo+Bancolombia+announces+the+acquisition+of+control+of+BAM.pdf?MOD=AJPERES
