IFC, IFC Asset Management Company Funds Invest in Latin American Expansion of Chile’s CorpBanca (Latin America)

Source: International Finance Corporation

International Finance Corporation (IFC) and two private equity funds managed by IFC Asset Management Company (IFC AMC) will acquire 5 percent of the common stock of Chilean commercial and retail bank CorpBanca. The two IFC AMC funds are the US$1 billion IFC African, Latin American and Caribbean Fund and the US$3 billion IFC Capitalization Fund. CorpBanca is publicly listed on the New York Stock Exchange (NYSE) and on the Bolsa de Santiago (BCS). Financial details of the transaction were not disclosed.