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BBVA Banco Continental finalizes 100% buyout of consumer finance units

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BBVA Banco Continental finalizes 100% buyout of consumer finance units

hascompleted its acquisition of 100% of BBVA Consumer Finance EDPYME, ForumComercializadora del Peru SA and Forum Distribuidora del Peru SA, the bank saidin a news release.

Thebank purchased all of the shares owned by BBV América S.L. in the consumerfinancing units on April 29, after buying the shares owned by Indumotora Internacional SAand Holding ContinentalSA earlier in April.

BBVABanco Continental's board decided in October 2015 to make offers for all of theshares in the three companies. The firms' shareholders waived their pre-emptiverights in November 2015 and Peruvian banking regulator SBS authorized the dealin March.