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Wednesday, August 8, 2012

Corpbanca in talks to acquire Colombia's Helm Bank

Chilean bank Corpbanca SA (BCA, CORPBANCA.SN) is in talks to acquire Helm Bank SA in Colombia, a person close to Corpbanca said.

Corpbanca, the fourth-largest private bank in Chile in terms of loan volume, recently crossed borders by purchasing Banco Santander Colombia for $1.23 billion.

"Corpbanca is interested in acquiring Helm Bank, but no deal has been closed yet," said the person close to the Chilean firm.

Chilean and Colombian newspapers have reported about Corpbanca's negotiations with Helm Bank, which has 4% market share. 

Santander Colombia has 3% market share.

The deal would be priced at $1.3 billion.

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