Profuturo AFP and AFP Integra acquired AFP Horizonte S.A. (BVL:HORIZC1) from Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA), Provida Internacional S.A, Holding Continental, S.A., and others for approximately $520 million on April 23, 2013. Profuturo AFP and AFP Integra will hold 50% stake each, in AFP Horizonte. Profuturo AFP’s shareholder’s 50% stake in AFP Horizonte is valued at ACD 260 million. Upon final regulatory approval, 50% share of AFP Horizonte will integrate ... with Profuturo AFP. Gabriel Mesa, Ruben Kraiem, Cecile Zwiebach, Robert Heller, Lee Tiedrich, Jessica Milner of Covington & Burling LLP acted as legal advisors for AFP Integra. Miranda & Amado acted as legal advisors on Peruvian law matters. William D. Torchiana, Sergio J. Galvis Joram M. Lietaert Peerbolte, Kiran S. Kadekar, Christopher M. Payne, Jorge Solis, Ronald E. Creamer Jr., Eugenio, Rebecca S. Coccaro, Allison H. MacDonald, Robin C. Kelly, Kathryn L. Freund, Nader Mousavi, and Blaze D. Waleski of Sullivan & Cromwell LLP acted as legal advisor for Banco Bilbao Vizcaya Argentaria. BBVA Corporate Finance acted as sole financial advisor to AFP Horizonte in the transaction. Goldman Sachs acted as financial advisor for Banco Bilbao Vizcaya Argentaria. Cleary, Gottlieb, Steen & Hamilton LLP acted as legal advisor for Goldman Sachs.
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Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA) agreed to acquire additional 15.87% stake in AFP Horizonte S.A from Provida Internacional S.A for approximately PEN 180 million on January 23, 2013. The transaction will generate estimated earnings of PEN 138.28 million ($55.1 million) for Provida. The conversions have been made through www.oanda.com.

Porvenir S.A. signed a stock purchase agreement to acquire 99.99% stake in BBVA Horizonte Pensiones y Cesantías, S.A. from Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA) and Compañia Chilena de Inversiones, S.L. for $530 million in cash on December 24, 2012. According to BBVA, the total price shall be adjusted in view of its net income from January 1, 2013, until the closing date. The obligations of Porvenir under the foregoing agreement are supported by Grupo Aval. ... The consummation of the transaction is subject to obtaining Colombian regulatory authorizations and to the satisfaction of certain legal and contractual conditions. The transaction is expected to close in the first half of 2013. As of January 17, 2013, the transaction was approved by Board of Directors of Grupo Aval, guarantor of Porvenir. Brian Hamilton, Ronald Creamer Jr. and Vijay Iyer of Sullivan & Cromwell LLP acted as legal advisors for Banco Bilbao Vizcaya Argentaria. Goldman Sachs acted as financial advisor to Porvenir S.A. Gómez-Pinzón Abogados acted as legal advisor to Banco Bilbao Vizcaya Argentaria, S.A. Latham & Watkins LLP acted as legal advisor to Porvenir.
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LeasePlan Corporation N.V. signed an agreement to acquire BBVA Autorenting SPA and Bbva Renting Spa from Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA) on December 13, 2012. LeasePlan will refinance the entire business with its own funding. The deal is subject to regulatory approval and other customary closing conditions and is expected to be completed during the first quarter of 2013. Marcello Gioscia, Gianluigi Pugliese, Benedetto Colosimo and Anna Vanni of Ughi ... & Nunziante acted as legal advisor for Banco Bilbao and Francesco Pisciotta, Pietro de Libero, Chiara Marinozzi and Riccardo Pennisi of Baker & Mckenzie Amsterdam N.V. acted as legal advisor for LeasePlan.
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Afore XXI, S.A. de C.V. entered into an agreement to acquire Administradora De Fondos Para El Retiro Banorte's , S.A. De C.V. from Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA) for $1.6 billion on November 27, 2012. Banorte will contribute 50% of the consideration and the Mexican Social Security Institute (“IMSS”) the remaining 50%. The purchase price shall be adjusted in view of the company's available excess capital at the closing date. BBVA estimates that such ... adjustment could reach $130 million, in which case the total price to be paid by the purchaser would be $1.73 billion. The operations of Afore Bancomer will be integrated into Afore XXI Banorte when the transaction is finalized, with the corporate identity and operations of Afore XXI Banorte subsisting. The closing of the transaction is subject to Mexican regulatory authorizations and approval by Mexico's antitrust agency Cofeco. It is anticipated that the closing of the transaction will take place in the first quarter of 2013. As of November 29, 2012, the transaction was approved by Mexico's pension fund regulator Consar. Ruben Kraiem, Gabriel Mesa, Cecile Zwiebach, Robert Heller, Michael Francese, Katherine Mineka, Lee Tiedrich, Jessica Milner, James O'Connell, Rebecca Carr, Peter Schwartz and Courtney Heizenrader of Covington & Burling LLP acted as legal advisors to Afore XXI Banorte, S.A. de C.V. Fernando de Ovando and Mauricio Castilla of Jones Day and Haynes & Boone also acted as legal advisor to Afore XXI Banorte, S.A on Mexican law matters. William Torchiana, Richard Morrissey, Sergio Galvis, Neal McKnight, Joram Lietaert Peerbolte, Lucas Carsley, Brendan Franich, Adam MacLeod, Kiran Kadekar, Christopher Payne, Jorge Solis, Jesse Dungan, Eugenio Labadie, Rebecca Coccaro, Robin Kelly, Allison MacDonald, Blaze Waleski, Julie Newman, Ronald Creamer Jr. and Ritch Mueller of Sullivan & Cromwell LLP acted as legal advisors for Banco Bilbao Vizcaya Argentaria. Morgan Stanley acted as financial advisor for Banorte Afore XXI Banorte. Goldman, Sachs & Co. acted as financial advisor for Banco Bilbao. Cleary, Gottlieb, Steen & Hamilton LLP acted as legal advisor for Goldman, Sachs.
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