The International Finance Corporation, a member of the World Bank group are to act as a co-investors for the acquisition of ING assets by Colombian investment conglomerate, Grupo de Inversiones Suramericana S.A.
Friday Grupo de Inversiones Suramericana S.A. or Grupo Sura annouced the decision by the board of directors of the IFC to provide up to $200 million to assist in the acquisition of the assets of ING, a Dutch financial institution.
Currently there are other co-investors, which are seeking internal authorization in order to define their participation in the project and will announce the decision to the market if and when the approval is confirmed.
Grupo Sura hopes that the remaining institutions obtain authorization within the coming days, with a view to complete the acquisition before the end of the year.
The financial support of the co-investors, as well as the funds obtained through the public offering of preferential shares, amount to a total of $2 billion and will be used to pay for the acquisition of ING shares in Latin America.