International investors led by DEG and Altra acquire a non-controlling stake in AVLA
- With the operation, which should be completed in the next month, the group of new stockholders will reach a share close to 40% through an acquisition of shares and a capital increase.
- With the entry of investors, led by DEG and Altra into the ownership of AVLA, the Chilean company adds strategic partners with extensive international experience to strengthen its Latin American expansion.
- Development Financial Institution, DEG, the German subsidiary of development bank KfW, is incorporated into AVLA S.A.´s property
SANTIAGO, Chile, June 28, 2019 /PRNewswire/ -- AVLA S.A., a leading organization in Surety Bonds and Trade Credit in Chile and Peru, finalized an agreement for the incorporation of a group of international investors integrated, among others, by DEG, Financial Institution for Development (DFI), and subsidiary of the Development Bank of the German government KfW, and Altra Investments, Colombian private equity funds manager with significant experience in the region.
According to the information sent to the Financial Market Commission (CMF), the transaction will materialize through a capital increase subscription and the purchase of 61,188 shares by new investors (through Landsberg Investments SL) to existing shareholders.
"We are very pleased to have reached this agreement incorporating partners of such prestige as DEG and Altra. Not also we are integrating smart capital to our company, but also with international experience. This is aligned with AVLA´s business strategy and our expansion plan through Latin America, where we have a lot of space to grow in the coming years", said Ignacio Álamos, AVLA`s CEO.
DEG is a Development Financial Institution (DFI) founded in 1962 and based in Cologne, Germany. DEG is a KfW subsidiary, a development bank owned by the German government. Since its founding, DEG has funded almost 1,300 companies in more than 120 countries and has an investment portfolio of approximately US $ 8,600 million in more than 80 countries, being one of the largest private sector development financiers in the world. DEG has a local presence throughout the world, with offices in the cities of Accra, Bangkok, Beijing, Istanbul, Jakarta, Johannesburg, Lima, Mexico City, Moscow, Nairobi, New Delhi, São Paulo and Singapore.
Altra Investments is one of the leading private equity fund managers in the region. To date, it has invested in eighteen companies and has raised more than US $ 550 million in direct capital commitments from a diversified group of investors. Altra was established at the beginning of 2005 in Bogotá, Colombia, and its investment focus is the Andean Region and Central America, with special emphasis on Colombia, Peru and Mexico.
About AVLA S.A.
AVLA is a financial services company leader in integrated solutions for Latin American companies. Its liquidity situation and equity indicators have been highlighted by the main risk rating agencies, receiving an international rating of BBB + for its Insurance Company by AM Best and several local classifications of A.
With operations in Chile and Peru, AVLA has a team of around 400 employees, more than 13 thousand clients served and an annual turnover of close to US $ 80 million. Through an integral support client customized, AVLA is contributing to Latin American´s strengthening of business development.
AVLA´s business strength is based, among other reasons, on the continuous support of 19 prestigious international reinsurers with excellent risk ratings, who rely on the Company´s experience and stability.
SOURCE AVLA S.A.
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