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Colombia’s Grupo Aval eyes HSBC acquisition

Tuesday, October 4, 2011

Grupo Aval, the Colombian financial group that owns BAC Credomatic in Central America, has made clear that HSBC is its next objective for a takeover in the region.

“We’ve got our eyes on the ball. It seems that HSBC wants to sell its assets in some countries of Central America, Peru, Uruguay, Paraguay, Chile and Colombia,” said Luis Carlos Sarmiento, president of Grupo Aval.

Grupo Aval’s interest in HSBC follows its acquisition last week of the Chilean unit of Itaú, the Brazilian bank.

Original source (in Spanish): El Heraldo