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Credifinanciera gets approval to close Banco ProCredit Colombia purchase

Colombian financial regulator SFC has approved Banco ProCredit Colombia SA's acquisition by Créditos y Ahorro Credifinanciera SA Compañía de Financiamiento, or Credifinanciera.

The companies have initiated procedures to close the deal, according to a statement from Credifinanciera posted on the regulator's website.

Credifinanciera's shareholders approved the full acquisition of Banco ProCredit in April through a share purchase agreement. Terms of the deal were not disclosed.