Chile's CorpBanca Considering Foreign Buyout Offers

Law360, New York (December 12, 2013, 4:53 PM EST) -- Chilean bank Corpbanca told its country's regulators Thursday that it had received acquisition offers for an undisclosed amount and was considering them but not agreeing just yet.

The Saieh Group, owned by billionaire Alvaro Saieh, owns 55 percent of CorpBanca and will make the final call about the bank's future. CorpBanca didn't disclose the values of the proposed deals, but the company has a market capitalization of $4.5 billion, according to information from the New York Stock Exchange.

"Corpbanca is analyzing, with the help of international...
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