After having been the largest single shareholder of Spanish bank Sabadell for more than two years, the colombian businessman Jaime Gilinski is reducing its participation in that entity.
This Monday it became known that the banker sold a package of actions that correspond to the 2.99 per cent of the capital of the financial institution.
The transaction was entrusted to the Deutsche Bank, to be carried out by means of a mechanism called 'accelerated placement' between local investors and foreigners, and the closing is scheduled for this Tuesday.
The operation would be around 212 million euros at market prices, since this Monday the stock closed at $ 1.25.
According to Spanish media, this value is lower than the one that had the titles when Gilinski entered the property from Sabadell, given that at the time were 1.64 euros.
As you recall, Gilinski reached to have 7.5 percent of the securities (by means of a society called Itos Holding Sàrl), and a few weeks ago, had sold 2.5 per cent, which their participation in the Sabadell is at 2.05 percent.
An article in the publication 'Five Days' of this country, points out that these sales are related to the low yields which have shown the banks in Europe, including the Sabadell.
This, in addition to that the entrepreneur needs liquidity to continue making investments in Latin America.
This is not surprising, since for several years Gilinski has developed a strong process of internationalization throughout the region, which includes not only the banking business, but the real estate and hospitality industries.
In Colombia, is the owner of the bank GNB Sudameris, the entity that bought it four years ago, the operations of HSBC in Colombia, Peru and Paraguay, and that on repeated occasions he has expressed the interest to continue to grow with acquisitions in the region.
Shopping cross
Precisely, the business of the banker in this part of the world have played a fundamental role in the expansion of Sabadell.
This entity, which is the fourth group in the Spanish financial takes several years of purchases.
after a short time of getting to know the input Gilinski to that entity, it was announced that the iberian company you purchased the JGB Bank, based in Miami, fl and caters to individuals and companies in the south Florida, in an operation which was around $ 50 million.
Later, came the arrival direct to South america, with the installation of representative offices in Peru and Colombia.
But in the country, the great operation of Sabadell was the purchase 4,99 percent of the GNB Sudameris, which also gave him entry to Peru and Paraguay.
In its time, the entity’s management, Spanish said that the main interest of this acquisition is to participate with funding in the road building projects of the fourth generation (4G) which is being developed by the colombian Government in partnership with the private sector, and which require investments of about 50 billion pesos.
But beyond banking, in the country GNB has trust, stock brokerage, and among its subsidiaries there is also the network of atms, Servibanca.
The most recent move occurred in Mexico, as in the first half of this year opened operations in the country, with a focus first to the corporate banking, and waiting after to venture into the segment of people.
In fact, hope that soon the aztec market to respond by 5 per cent of their income, a proportion that, to give you an idea, is what gives the united States.
anyway, the big business of Sabadell occurred in the United Kingdom.
This, with the purchase of TSB, which was around 2,300 million dollars, and that allowed them to enter to operate directly in the market of natural persons of that country.
In that moment, with just 5 percent of the assets in the Sabadell was in other geographies, and with the TSB, the proportion increased to 22 percent. And now, with the moves made in the united States and South america, the number is even higher.
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