DJ Peru's Banco Wiese To Get About 37% Of New
Bank -Source
LIMA (Dow Jones)--Peruvian bank, Banco Wiese Ltdo
(BWP), will end up with about a 37% share in the newly
formed bank, Banco Wiese-Sudameris after a previously
announced merger is completed, an official with one of the
banks said Tuesday.
"The number of 37% is more or less right," said the
official, who declined to be identified.
"We are in the final stages of advising the proper Peruvian
and Italian authorities," he added.
Banco Wiese's share price has fallen sharply on worries
that shareholders would keep only a small portion of the
new bank after a merger with Banco de Lima.
Banco de Lima is controlled by Sudameris, a unit of Italy's
Banca Commerciale Italian (I.BAN).
Banco Wiese, the second largest bank in Peru, had been
expected to take about a 47% stake in the new bank,
while Sudameris was to have gotten 53%.
But an ongoing audit of the books left many investors
worried that Banco Wiese's share would shrink
drastically.
The official said that under the new deal, Sudameris will
get about a 63% share of the new bank.
Any new accord would have to be approved by the
shareholders of both banks, a report in El Comercio
newspaper said.
-By Robert Kozak 511 221-7050; RKozak@ap.org
(END) DOW JONES NEWS 06-08-99
10:19 AM |
