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Strategies & Market Trends : Banco Wiese (NYSE:BWP) -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (6)	6/8/1999 9:06:00 PM
From: RockyBalboa	Respond to of 13

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

To: RockyBalboa who wrote (6)	6/8/1999 9:11:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 13

This was the old news.... DJ Peru's Banco Wiese Shares Drop On Merger Delays LIMA (Dow Jones)--Delays in the official creation of Banco Wiese-Sudameris is severely hurting shares of Banco Wiese Ltdo (BWP), which will merge with Banco de Lima, controlled by Sudameris, a unit of Italy's Banca Commerciale Italiana (I.BAN), said a top official at Banco Wiese Tuesday. Banco Wiese shares fell more than 10% Tuesday. Banco Sudameris to buy a controlling stake in Banco Wiese, Peru's second-largest bank in terms of loans, in mid-January. The resulting company will rank second in the country, after Banco de Credito (E.BDC), a unit of Credicorp Ltd. (BAP). "Shareholders must be worried about delays in the official merger," said an official who declined to be identified. He said the merger won't take more than 10 days. He said that although the merger has been postponed, such a large operation "can't be executed in five minutes." The official said Arthur Andersen has been hired by both banks to audit each bank's documents. "Officials from Banco Wiese have some disagreements with Banco de Lima reports and vice versa, but directors of both banks said that the merger will go," said the official. A statement released when the deal was announced said the stake purchased by Sudameris is worth about 53% of Banco Wiese. Officials said later the exact percentage was going to be released after the merger. But rumors spreading in the market in the last days said Banco Wiese will be able to keep just 10% of the new bank Wiese-Sudameris. "I can't rectify or deny this figure. I don't believe that this (percentage) will be exact if the audit just has finished, " said the Banco Wiese official. If this happens, Banco Wiese's shares would lose value, local traders said. Claudia Pescetto, analyst at Macrovalores, said the market capital of Banco Wiese fell to $118 million from $243.3 million the day after the merger was announced. Officials at Banco Sudameris weren't available for comment. -By Virginia Rey-Sanchez; 511-221-7050; VReySanchez@ap.org (END) DOW JONES NEWS 05-25-99 07:53 PM