BBV to pay $350 million for 55% of Chile's BHIF

Article Abstract:

Banco Bilbao Vizcaya (BBV), in its desire to expand its Latin American network, will purchase a 55% stake in Banco BHIF of Chile for $350 million. Under the terms of the deal, BBV will pay the 55% stake mainly through two capital increases, with the rest to be paid in cash to Banco BHIF shareholders, which include the Said and Masu families which own a 54% joint stake in BHIF. The purchase will strengthen BBV's position in the Latin American region, where it presently manages a network of 1,300 branches in 14 countries, including Colombia, Mexico and Argentina.

Comment:

Will purchase a 55% stake in Banco BHIF of Chile for $350 mil

Asset sales & divestitures, Chile, Banco Bilbao-Vizcaya S.A., Article, Banco BHIF

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BSCH's net climbed 16% in first half

Article Abstract:

Banco Santander Central Hispano (BSCH) posted an improvement of 16% in its consolidated net profits for the first-half of 1999. BSCH is the largest banking group in Spain. The group is predicting that it will post a record 25% improvement in its net profits for the entire 1999 year. BSCH was formed out of the merger between Banco Santander and Banco Central Hispano.

Comment:

Posts improvement of 16% in consolidated net profits for first-half of 1999

Sales, profits & dividends, Finance, Abstract, Banco Santander Central Hispano S.A.

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Deutsche Bank-led group pays 285 million euros for Barcelona hotel

Article Abstract:

A Deutsche Bank-headed investment group has acquired Barcelona, Spain's Hotel Arts facility for 285 million euros. The Hotel Arts building is a hotel containing 44 stories.

Germany, Facilities & equipment, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Mergers, acquisitions and divestments, Buildings and facilities, Barcelona, Spain (City), Deutsche Bank AG, DTBKY

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