Colombian holding company GrupoSura has priced shares worth $2.1 billion, Reuters reports. The price has been set at $17.44 per share for its sale of preferred shares. The proceeds will be used to fund part of its acquisition of Dutch bancassurer ING Groep’s assets. It may handle the rest of the acquisition with cash flow and bank loans, and may also bring in a partner.
GrupoSura is the investment division of Colombia’s biggest conglomerate Grupo Empresarial Antioqueno (GEA). In the largest ever deal by a Colombian company, GEA had in July acquired ING’s pension, insurance and investment funds in Latin America for $3.7 billion.
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