World Bank Unit Invests $225M In Chilean Bank

Law360, New York (October 5, 2012, 6:25 PM EDT) -- The International Finance Corp., the World Bank's private investment arm, has agreed to buy a 5 percent stake in CorpBanca COB.SN, a Chile-based private bank, for approximately $225 million, an IFC spokeswoman said Friday.

Two funds managed by the IFC's Asset Management Co. will buy about 5 percent of CorpBanca's common stock in an effort to support the bank's expansion in Latin America and bolster the region's economy, according to IFC.

The transaction is expected to close either late this year or early next year, according...
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