LIMA, Peru--Chile's AFP Provida will transfer its 15.87% stake
in Peruvian private pension fund AFP Horizonte to parent company
Grupo BBVA.
AFP Provida's director general, Andres Veszpremy Schilling, said
in a statement Thursday that the transfer price will be 182.5
million soles ($71.4 million).
AFP Horizonte is owned mainly by Holding Continental and Spain's
Banco Bilbao Vizcaya Argentaria SA. (BBVA)
AFP Provida has belonged to the Banco Bilbao Vizcaya Argentaria
group since 1999.
That Spanish bank is in the process of getting rid of
pension-fund assets in various parts of Latin America.
Peru's private pension funds, or AFPs, began operating in
1993.
Of the currently operating funds, Prima AFP is controlled by
Credicorp Ltd.(BAP, BAP.VL), while AFP Integra SA (INTEGRC1.VL) is
owned by Colombia's Grupo de Inversiones Suramericana SA (GIVSY,
GRUPOSURA.BO). AFP Profuturo's main shareholder is a unit of Bank
of Nova Scotia(BNS, BNS.T)
Write to Robert Kozak at robert.kozak@dowjones.com
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