BBVA pays US$7.5mn for 55.7% stake in microlender

The 162,008 shares four investors held in Peruvian microlender CajaSur have been transferred to Fundación BBVA para las Microfinanzas at 141.41 soles each, CajaSur told securities regulator Conasev in a filing.
The number of shares is equivalent to a 55.7% stake in CajaSur, for which BBVA's foundation paid 22.9mn soles (US$7.50mn).

The sale agreement was signed last February, the filing said.

Fundación BBVA para las Microfinanzas is the non-profit microfinance arm of Spain's BBVA (NYSE: BBV), which promotes access to financial services for low-income groups by taking controlling stakes in microfinance institutions.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: September 25, 2007

No comments: