Itaú Corpbanca Files Material Event Notice Announcing the Acquisition of Shares of Itaú Corpbanca Colombia from CorpGroup

Rhea-AI Summary

ITAÚ CORPBANCA (NYSE: ITCB) has finalized its acquisition of shares in Itaú Corpbanca Colombia from CG Financial Colombia S.A.S., Corp Group Banking S.A., and CorpGroup Interhold Ltda. for approximately US$414 million. Following this transaction, Itaú Corpbanca now holds about 99.46% of the equity in Itaú Corpbanca Colombia. This strategic move aims to strengthen its foothold in Colombia and enhance operational efficiencies.

Positive

• Acquisition of approximately 99.46% of Itaú Corpbanca Colombia strengthens market position.
• Transaction value of US$414 million expected to enhance operational efficiencies.

Negative

• None.

SANTIAGO, Chile, Feb. 22, 2022 (GLOBE NEWSWIRE) -- ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced that it filed today a Material Event Notice with the Chilean Financial Market Commission reporting the completion of its previously announced acquisition of shares of Itaú Corpbanca Colombia from CG Financial Colombia S.A.S., Corp Group Banking S.A. and CorpGroup Interhold Ltda. for aggregate consideration of approximately US$414 million. As a result of the transactions, Itaú Corpbanca owns directly and indirectly approximately 99.46% of the equity of Itaú Corpbanca Colombia. The full Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

Investor Relations – Itaú Corpbanca

+56 (2) 2660-1751 / IR@itau.cl / ir.itau.cl

FAQ

What was the acquisition amount for Itaú Corpbanca's purchase of shares in Colombia?

The acquisition amount was approximately US$414 million.

How much of Itaú Corpbanca Colombia does ITCB now own?

Itaú Corpbanca now owns approximately 99.46% of Itaú Corpbanca Colombia.

Who were the sellers in the Itaú Corpbanca acquisition?

The sellers were CG Financial Colombia S.A.S., Corp Group Banking S.A., and CorpGroup Interhold Ltda.

What impact does the acquisition have on ITCB's market position?

The acquisition strengthens ITCB's market position in Colombia.