FORUM Servicios Financieros SA, the Chilean automobile financing business Banco Bilbao Vizcaya Argentaria SA put up for sale in late 2018, will end its commercial partnership with Japanese carmaker Nissan in December, Diario Financiero reported.
The two sides were unable to reach an agreement on renewing their deal, which was struck in 2014 and will expire Dec. 22.
In a statement, FORUM said it has not yet accurately been able to determine what impact the end of the partnership might have on the company's results.
Executives from the automobile financing sector told Diario Financiero that failure to renew the partnership might complicate BBVA's efforts to find a buyer for FORUM. However, with the end of the Nissan deal, the company will still have agreements in place with 16 other brands.
A number of entities who were earlier considering the FORUM purchase have reportedly backed out of the race this year, including Banco de Chile and Bank of Nova Scotia.
