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Sumitomo Mitsui Banking Corporation Invests in Financiera de Desarrollo Nacional S.A.(1/1)
April 20, 2015
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation Invests in Financiera
de Desarrollo Nacional S.A.
TOKYO, April 20, 2015---Sumitomo
Mitsui Banking Corporation (gSMBCh, President & CEO:
Takeshi Kunibe) and International
Finance Corporation (gIFCh, Executive Vice President & CEO: Jin-Yong Cai) have entered into a stock purchase agreement, in which
SMBC will purchase from IFC 8.8% of the total issued and outstanding shares of Financiera de Desarrollo Nacional
S.A (gFDNh). SMBC will nominate a Director as a member of FDNfs Board of
Directors.
FDN is a development bank created by the Colombian
government in 2011 with the objective to manage and stimulate the financing/structuring
of the key infrastructure projects in Colombia. While FDNfs top priority is to
support the fourth generation road concessions program (g4Gh) through its services
such as financing, guarantee, and advisory, the entity will also focus on other
important power and infrastructure projects in the mid-to-long term.
SMBC signed a memorandum of understanding
(gMOUh) on business cooperation with FDN in July 2014. Under the MOU framework,
SMBC and FDN have been closely exchanging information, expertise, and personnel
in order to develop finance structures suitable to the countryfs major
infrastructure projects and also diversify finance sources. And now, as the
sole private investor of FDN, SMBC will further collaborate with FDN to offer know
how in infrastructure finance and bring into the market products/services that
will contribute to the countryfs strong economic and social development.
FDN profile, as of Mar 31, 2015:
(1)
Transformed from Financiera Energetica
Nacional S.A. to FDN in 2011
(2)
Headquartered in Bogota
D.C., Colombia
(3)
President:
Clemente del Valle
(4)
Total assets: Colombian
Peso 676.3 billion (equivalent to US$ 260 million)
(5)
Shareholding
after : Colombian Ministry of Finance and
Public Credit 73.5%
SMBC subscription IFC (International
Finance Corporation) 8.84%
CAF (Development Bank of Latin America)
8.84%
SMBC
8.84%