Consorcio Financiero to take regional stake in Compass Group

Chilean financial services group Consorcio Financiero will swap its 50% stake in Compass Group Chile for a 15% stake in the latter's Americas franchise, which includes offices in the US, Argentina, Colombia, Mexico and Peru.

Consorcio Financiero will also buy Compass Group's 12.5% stake in the fund manager which Consorcio operates with Chilean stock broker and investment banking firm LarrainVial, local press reported. As a result, Consorcio will end up with 25% of the fund manager and LarrainVial will hold the remainder. Compass Group on its part will step up its business focus on institutional investors and high net worth clients, both in Chile and in the Americas.

Publication: Business News Americas - English News
Provider: Business News Americas
December 4, 2009