Credicorp Ltd. announced today that it has reached an agreement to acquire 74.49% of the capital stock of Banco Compartir S.A. (“Bancompartir”), one of the leading microfinance banks in Colombia, from a group of shareholders including Colsubsidio, Cafam, Comfandi, Comfenalco Cartagena, and Accion. Closing of the transaction, subject to certain regulatory approvals and other customary conditions, is expected to occur by the fourth quarter 2019. Credicorp will pay approximately COP 254.8 billion (approximately USD 80 million) for the 74.49% controlling interest in Bancompartir, subject to closing adjustments.
