Grupo Aval Finalizes BAC Purchase
Grupo Aval completed the purchase of BAC-Credomatic completing the transaction for the purchase price of $ 1,920 million.
Friday, December 10, 2010
Luis Carlos Sarmiento Angulo, president of the board of Grupo Aval, which owns 75% of Banco de Bogota, told the press, "We hope to expand the product range and offer new services designed to meet Colombian customers established in Central America and Central American customers doing business in Colombia.”
Luis Carlos Sarmiento Angulo, one of the richest men on earth, is the owner of Grupo Aval, which controls some of the largest banks in Colombia.
Grupo Aval would finalize the purchase this year, once it has authorizations from regulatory agencies.
GE Capital Global Banking announced today that it has reached a definitive agreement to sell BAC Credomatic to Grupo Aval, Colombia’s largest banking holding group, for $1.9 billion.
The Colombian Bank has made an offer to purchase 100% of BAC-Credomatic’s shares.
- Daily Update
- Government Purchases
- Classified Ads
- Indexes & Statistics
- Press Releases
- Events Calendar