Milano, 09 March 2006
Following approval of relevant regulatory authorities, Banca Intesa has finalised today the sale of its Peruvian subsidiary Banco Wiese Sudameris (BWS) to Scotiabank as announced on 5th December 2005.
Banca Intesa will retain a minority stake of 19.95% in the entity resulting from the subsequent merger of the operations of BWS and Banco Sudamericano. A put/call option on Banca Intesa’s stake in the combined entity can be exercised beginning from the sixth year immediately following the closing.
The entity resulting from the integration of BWS and Banco Sudamericano will operate in Peru with over 130 branches and will rank third in its domestic banking system with total assets of approximately USD 3.5 billion.
Last updated 9 March 2006 at 11:43