Bancolombia to pay $2.1 billion for HSBC Panamá

The president of Bancolombia, Carlos Raúl Yepes, decided to end rumours surrounding the acquisition of a Central American bank.

Bancolombia will pay $2.1 billion in cash for 100 percent of HSBC Panama's ordinary shares, and 90 percent of its preferential shares.

Davivienda and Grupo Gilinski, both Colombian, have already bought HSBC's operations in Central and South America.




Full story (in Spanish)