Bladex Reaches Agreement to Divest Asset Management Unit
by PR Newswire
PANAMA CITY, Feb. 5, 2013 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior, S.A. ("Bladex", or "the Bank", NYSE: BLX) announced today that the Bank reached a substantial agreement on the terms of sale for Bladex's Asset Management Unit ("the Unit"), and is in the process of completing final documentation. The agreement contemplates the sale of the Unit to current executives of Bladex Asset Management, together with a third party investor. The transaction, which is subject to final documentation and regulatory approvals, is expected to be completed by March 31, 2013.
Bladex is a supranational bank originally established by the central banks of Latin American and Caribbean countries ("the Region"), to support trade finance in the Region. Established in Panama, its shareholders include central and commercial banks in 23 countries in the Region, as well as international and Latin American banks, and private investors.
For more information, please access our website at www.bladex.com or contact:
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Panama City, Panama
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.