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Grupo Wiese agrees to sell Sura AM stake; Colombia maintains key rate


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Grupo Wiese agrees to sell Sura AM stake; Colombia maintains key rate

* Peruvian conglomerate Grupo Wiese agreed to sell its stake in Sura Asset Management SA to Canadian pension fund Caisse de dépôt et placement du Québec for US$112 million, El Comercio reported. The deal is subject to regulatory approvals, including in Mexico where Sura Asset Management has certain operations.

* Colombia's central bank held its monetary policy interest rate steady at 4.25%, pointing to stable inflation levels and still-weak economic activity. The central bank said in a statement that the dynamics of domestic demand in the third quarter turned out "better than expected" mainly due to investment in construction.


* The lower house of Mexico's Congress finalized the approval for the country's 5.8 trillion Mexican peso budget for 2019, Reuters reported. The approved budget was nearly 24 billion pesos higher than the initial amount presented Dec. 15.


* Banco do Brasil SA said it purchased a loan portfolio from affiliated lender Banco Votorantim SA for about 593.8 million reais, Valor Econômico reported. Banco do Brasil holds a 49.99% stake in Banco Votorantim, according to S&P Global Market Intelligence data.

* Banco do Brasil said Márcio Luiz Moral and Carlos Alberto Araújo Netto resigned as corporate bank director and director for strategy and organization, respectively. Moral first joined the bank in 1983, while Araújo Netto was appointed to his post in 2017.

* Prudential do Brasil Seguros de Vida SA signed a partnership agreement with Banco BTG Pactual SA's insurance brokerage division to market individual life insurance policies, Diário Comércio Indústria & Serviços reported.


* Credit to the private sector in Peru increased 8.1% year over year in November, with loans to individuals growing 11.1% and consumer credit rising 13.1%, El Comercio reported, citing data from the country's central bank.

* Peruvian banking association Asbanc and national environment fund Fonam signed a cooperation agreement to promote financing for sustainable environmental projects in the country, Gestión reported.


* Bupa Chile SA's shareholders decided to increase the size of the company's board to eight directors from three, Diario Financiero reported. The new directors will be confirmed at the next annual shareholders' meeting in 2019.


* Emerging countries will take longer than expected to outgrow developed economies, Reuters reported, citing the Centre for Economics and Business Research. The consultancy said it now expects Brazil's economy to pass Italy in 2020, not 2018 as forecast earlier.

Pablo Jimenez Arandia contributed to this article.

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