Bancaribe
Deal Type
Acquisition
Sector
Financial Services
Completion Date
2nd July 2020
Deal Value
Not disclosed
Company Background
Banco del Caribe, C.A., Banco Universal (“Bancaribe” or “Company”), is a private bank based in Caracas, Venezuela, with operations in Curacao.
Deal Summary
BroadSpan Capital acted as exclusive financial advisor to Bancaribe in its acquisition of Arca International Bank.
Arca International Bank, a private bank based in Puerto Rico, provides services to personal and corporate clients in Latin America and the US.
Its acquisition represents an important strategic asset for Bancaribe, as it marks an entry into the US banking system and enables a significant expansion of the services offered to clients.
Bancaribe’s acquisition of a 70% stake in Arca International Bank was carried out over the course of two transactions: The capitalization of the bank, involving the issuance and transfer of new shares, and subsequently, a transfer of existing shares. The remaining 30% stake will be acquired through a put/call mechanism by 2024.
Value Added
BroadSpan actively served Inversiones Americana del Caribe (IAC) in this transaction in order to maximize its value and diminish its risks and guarantees.
Bancaribe deal contacts
Key members of the BroadSpan Capital deal team crucial in the Bancaribe transaction
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