Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  BOLSA DE VALORES DE COLOMBIA  >  Grupo de Inversiones Suramericana SA    SIS   COT13PA00011

SummaryNewsCalendarCompanyFinancialsConsensus 
News SummaryMost relevantAll newsSector news 

Correction to BBVA Sells Peruvian Pension Unit Story

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/23/2013 | 11:28pm CET

"UPDATE: BBVA Sells Peruvian Pension Unit to Sura, AFP Profuturo," published at 1854 GMT, incorrectly stated that Grupo Sura and Bank of Nova Scotia were paying $514 million and $515 million respectively for BBVA's pension unit in Peru. The total value of the transaction and for both Grupo Sura and Bank of Nova Scotia is $516 million. The error also was reflected in a headline that published at 1838 GMT. The correct version of the story follows.

(Updates with details on AFP Profuturo's purchase of stake.)

 
  By Darcy Crowe and Ryan Dube 
 

BOGOTA, Colombia--BBVA (>> Banco Bilbao Vizcaya Argentaria S.A.) has sold its Peruvian pension unit, with Colombia's Grupo de Inversiones Suramerica SA and AFP Profuturo taking equal stakes.

Grupo de Inversiones Suramerica SA (GRUPOSURA.BO), known as Grupo Sura, said it is buying a 50% stake while AFP Profuturo, whose main shareholder is a unit of Bank of Nova Scotia (BNS, BNS.T), also said Tuesday that it bought the remaining 50% stake in AFP Horizonte. The total value of the transaction is for $516 million.

AFP Profuturo said that within six months it plans to transfer 50% of the pension funds held by AFP Horizonte to its portfolio. It said the other 50% will be transferred to AFP Integra SA (INTEGRC1.VL), which is Grupo Sura's unit.

Grupo Sura, a financial conglomerate that is also a shareholder in Bancolombia, Colombia's largest bank, has been expanding overseas in recent year.

The Medellin-based firm in 2011 paid 2.6 billion euros to acquire the pension business of ING Groep NV (>> ING Groep N.V.) in Latin America.

Write to Darcy Crowe at darcy.crowe@dowjones.com.

Stocks mentioned in the article : Banco Bilbao Vizcaya Argentaria S.A., ING Groep N.V.
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GRUPO DE INVERSIONES SURAM
10/27 GRUPO DE INVERSIONES SURAMERICANA : Gruposura Finance Raises USD540 Million in S..
09/27 GRUPO DE INVERSIONES SURAMERICANA SA : ex-dividend day for quarterly dividend
09/02 SURA PERU PRESENTS THE FOURTH EDITIO : “Mi Nieto y Yo” SURA: Integra..
08/30 GRUPO DE INVERSIONES SURAMERICANA : A good level of business performance coupled..
08/18 GRUPO DE INVERSIONES SURAMERICANA : SURA Peru promoted saving and entrepreneursh..
08/18 GRUPO DE INVERSIONES SURAMERICANA : SURA Peru and IOM execute an agreement again..
08/02 GRUPO DE INVERSIONES SURAMERICANA : Seguros SURA Merges Operations with RSA in C..
06/30 GRUPO DE INVERSIONES SURAMERICANA : Paul Sullivan reveals 7 steps to achieve fin..
06/30 GRUPO DE INVERSIONES SURAMERICANA : Seguros SURA launches energy-efficient solut..
06/27 GRUPO DE INVERSIONES SURAMERICANA SA : ex-dividend day for quarterly dividend
More news
Sector news : Life Insurance
12/08DJAEGON : Accelerates US Restructuring, Expects to Cut 500 Jobs
11/30 Impact on insurers from Britain's vote to leave the EU
11/28 Italy's Monte dei Paschi lists multiple threats to rescue plan
11/28DJAsian Shares Mostly Down on Skepticism About OPEC Deal
11/24 BANCA MONTE DEI PASCHI DI SIENA : Monte dei Paschi shareholders approve vital ca..
More sector news : Life Insurance
Advertisement
Financials ( COP)
Sales 2016 12 925 000 M
EBIT 2016 1 618 000 M
Net income 2016 169 000 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 1,63x
Capi. / Sales 2017 1,45x
Capitalization 21 012 331 M
More Financials
Income Statement Evolution
More Financials
Consensus 
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 41 196  COP
Spread / Average Target 12%
Consensus details
Managers
NameTitle
David Emilio Bojanini García Chief Executive Officer & Director
Luis Fernando Alarcón Mantilla Chairman
Ignacio Calle Cuartas Chief Financial Officer
Jorge Mario Velásquez Jaramillo Director
Jaime Bermúdez Merizalde Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GRUPO DE INVERSIONES S..6 997
CHINA LIFE INSURANCE C..-9.01%98 912
PING AN INSURANCE (GRP..2.39%98 296
AIA GROUP LTD-5.51%67 936
JAPAN POST HOLDINGS CO..-17.41%59 583
CHINA PACIFIC INSURANC..6.06%38 620
More Results