Simpson, Posse Aid CorpBanca's $1.3B Colombian Bank Buy

Law360, New York (October 9, 2012, 6:17 PM EDT) -- Chile's Banco CorpBanca SA is taking over Helm Bank SA in a deal worth about $1.28 billion to bolster its presence in Helm's Colombian base and form the country's fifth-largest bank, CorpBanca announced Tuesday.

A unit of CorpBanca has already inked a deal for 91 percent of Helm Bank’s ordinary shares and will make an offer to minority holders to purchase the remaining shares, according to Simpson Thacher & Bartlett LLP, which is representing CorpBanca.

To finance the merger, which is expected to close in the...
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