Banco Bilbao Vizcaya Argentaria S.A. (BBVA: Quote) announced it has reached an agreement with Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir, S.A., a subsidiary of Grupo Aval Acciones y Valores, S.A., for the sale to the former of the total stake that BBVA holds directly or indirectly in the Colombian company “BBVA Horizonte Sociedad Administradora de Fondos de Pensiones y Cesantías S.A.”. The total price agreed is $530 million.
BBVA expects that the closing of the transaction will take place in the first half of 2013.
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by RTT Staff Writer
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