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Government of Colombia

Date October, 2005
Client Government of Colombia
Counterparty BBVA
Industry Financial services
Amount US$ 424 million
Exclusive financial advisor to the Government of Colombia on the privatization of Banco Granahorrar. Colombia is the 5th largest economy in Latin America with a sophisticated financial system and is the only country in Latin America that has never defaulted or restructured its foreign debt. The partners of Landmark Capital advised the Colombian Government Agency FOGAFIN on the successful sale of Banco Granahorrar to BBVA of 98.8% of the bank for a consideration of US$ 424 million to Spanish financial services group BBVA trhough a highly competitive auction process that allowed for price maximization; FOGAFIN had set a minimum price of US$ 189 million for the sale of Granahorrar and bidders increased the price to US$424 million. This is the largest bank privatization in Colombia to date and was one of the most significant banking transactions in Latin America of that year. The transaction positioned BBVA as the third largest banking group in Colombia and the leading player in the country’s mortgage market. This transaction was executed by the partners of Landmark Capital while they were partners of IB Partners.