Grupo Bancolombia is Majority Stakeholder in Grupo Agromercantil

With the purchase of another 20% stake, Bancolombia Group now holds 60% of the shares of the Group Agromercantil de Guatemala.

Tuesday, January 5, 2016

Two years after the acquisition of a 40% stake of Argomercantil Holding Group, Grupo Bancolombia has decided to consolidate its presence in the country by acquiring a further 20%. The Colombian company said the acquisition is part of a consolidation strategy in Guatemala and Central America. reports that "... The first 40% Argomercantil Holding Group, the holder of shares in the Agromercantil Financial Group and its affiliates, including the Bank of Guatemala Agromercantil (BAM), was acquired in December 2012 by Bancolombia. "

"... The operation was concluded after approval was given by the authorities of Colombia, Panama and Guatema."

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