Cariola and Carey advised on the deal
Credicorp Ltd., through its subsidiary Krealo, has agreed to pay approximately $19 million to acquire 100% stake of Multicaja’s digital business unit.
The payment will be made in two installments, 50% in 2019 and the remaining in 2020.
The transaction is subject to compliance with certain conditions precedent and approvals.
Multicaja is a Chilean payment-acquiring company founded in 2007 with a wide presence in Chile through more than 17,000 affiliated merchants and 700,000 online users.
Multicaja processes over 115 million transactions per year. The digital business unit of Multicaja comprises: support services to cross-border payments, online top-ups, online utility payments, and pre-paid accounts. The prepaid account business requires a regulatory approval from SBIF (the Chilean Banking Supervisor).
This acquisition represents the first investment of Krealo in Chile.
Credicorp Ltd. (NYSE: BAP) is the leading financial holding in Peru with presence in Chile, Colombia and Bolivia.
Cariola advised Credicorp with Juan Antonio Parodi (Picture) and Nicolás Vial.
Carey advised Multicaja withGuillermo Acuña, Feliciano Tomarelli, Constanza Trisotti and Francisca Castillo
Involved fees earner: Guillermo Acuña – Carey; Francisca Castillo – Carey; Feliciano Tomarelli – Carey; Constanza Trisotti – Carey; Juan Antonio Parodi – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Nicolás Vial – Cariola, Díez, Pérez-Cotapos & Cía Ltda;