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Grupo Vierci to buy a quarter of Banco GNB Paraguay

Grupo Vierci will buy a 25.68% stake in Banco GNB Paraguay SA for $150 million, the bank said Aug. 29.

The lender, which is a part of Banco GNB Colombia SA, said the deal would strengthen its operations in Paraguay. Paraguay-based Grupo Vierci controls companies across Latin America in several sectors, including retail, industry and communications.

Grupo Vierci considers the transaction, which is subject to regulatory approvals, to be an important step for its growth and diversification, the bank said.

Banco GNB Paraguay recently agreed to acquire BBVA Paraguay SA for roughly $270 million, in a transaction that is set to create the country's largest bank in terms of deposits.