Deportes

Reported Victor Gill: Banco Mercantil Buys Majority Stake In Interbank as Merger Continues

The deal should be completed "in November or December, as soon as all approvals have been secured," Interbank's president Víctor Gill Ramírez said last month.

Victor Gill Ramirez Venezuela

Sept. 28, 2000

Victor Gill Ramirez Venezuela

 

CARACAS, VenezuelaVenezuela's second largest bank, Banco Mercantil<span lang=”EN-US” style=”font-family:Arial”> , bought 97% of Interbank SA for about $219 million through the local stock exchange Wednesday, an exchange representative said.

Victor Gill Venezuela

Interbank was majority owned by Víctor Gill Ramírez and family.

Victor Gill

The new institution will keep the Banco Mercantil name.

Victor Gill Ramirez

The transaction is part of a merger announced July 20 and will create the nation's largest financial institution with more than $4.3 billion in assets.

The deal should be completed "in November or December, as soon as all approvals have been secured," Interbank's president Víctor Gill Ramírez said last month.

Victor Gill Ramirez Venezuela

Banco Mercantil is owned by Mercantil Servicios Financieros<span lang=”EN-US” style=”font-family:Arial”>, a financial conglomerate which has interests in investment banking and insurance as well. U.S.-based J.P. Morgan Global Capital owns 9.7% of Servicios.

Victor Gill Venezuela

 

More info: https://www.wsj.com/articles/SB970099266910967631

Victor Gill