Bancolombia S.A. completed the acquisition of additional 47.37% stake in Vlipco for COP 870 million.
November 29, 2021
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Bancolombia S.A. agreed to acquire additional 47.37% stake in Vlipco for COP 10.5 billion on November 10, 2021.. The acquisition price is ten thousand five hundred twenty million eight hundred seventy-seven thousand four hundred seventy-eight Colombian pesos 10520.877 million. Upon consummation of the acquisition, Bancolombia's existing ownership stake in Vlipco S.A.S. will increase to 100%. Transaction is subject to satisfactory completion of applicable regulatory procedures. It is expected that closing of the transaction will occur before the end of 2021.
Bancolombia S.A. completed the acquisition of additional 47.37% stake in Vlipco for COP 870 million on November 10, 2021.
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.