The Aval Acciones y Valores SA Group issued a statement this Thursday, in which it reported a strategic move in the financial and investment market to strengthen its presence in this sector and expand the offer of services and alternatives for its clients, by authorization of its board of directors.
The first movement consists of acquiring 99.9% of the shareholding held by Corficolombiana SA (Corfi), and of Corfi’s subordinates, in the company Fiduciaria Corficolombiana SA, as well as 40.77% of the shares in the company. broker Casa de Bolsa SA.
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In this sense, they explained that “for the purposes of establishing the price of the transaction, an independent third party was hired.”which will deliver its reports to the Board of Directors, which was in charge of authorizing the moves.
Likewise, they indicated that, in accordance with the approval of the Board of Directors on October 30, with the above they seek to “establish Aval Banca de Inversión SAS, a company whose purpose will be the structuring of financial operations and Project Finance advice.” .
Grupo Aval is the largest banking group in Colombia.
Private file
This new service will also “accompany clients to obtain resources in banking and capital markets, advice on mergers and acquisitions processes, as well as the provision of financial consulting services. Grupo Aval will participate in 70% of the shareholding composition of this new Company and Corfi will be a shareholder of the remaining 30%.”
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That said, Grupo Aval indicated that, after the closing of the transaction, Fiduciaria Corficolombiana will become Aval Fiduciaria and Casa de Bolsa into Aval Casa de Bolsa, “entities that, together with Aval Banca de Inversión, will enhance the offer of comprehensive financial services for Grupo Aval clients.”
These movements, as reported, are part of Grupo Aval’s strategy for the search and execution of new investments and the opening of new markets that reinforce its role as a leading entity in investments in the real sector. Likewise, it was made clear that they will not affect the services they are already providing.
* The companies Grupo Aval and Corficolombiana are part of the business group that controls the company Casa Editorial EL TIEMPO, to which Portafolio belongs.
