|
|
Article: Peru: Scotiabank buys 47.5% stake in Profuturo for US$33mn.
- Article from:
- TendersInfo
- Article date:
- June 21, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: mohammed05
Canada's Scotiabank (NYSE: BNS) has acquired a 47.5% stake in Peruvian pension fund manager Profuturo AFP for US$33mn, the bank said in a press release.
Profuturo AFP is Peru's smallest pension player, controlling 13.8% of total assets under management held by the country's four private pension managers at end-May, according to financial sector regulator SBS data.
Top player AFP Integra finished May with 31.9% of market share in terms of assets under management.
Profuturo's existing shareholders ...