Multi Credit Bank Buys Control of Macrofinanciera

Panamanian Multi Credit Bank has agreed to buy a 70% controlling stake in Colombian financing house Macrofinanciera. The deal between the local Castellanos family, which owns 100% of Macrofinanciera, and Multi Credit Bank is expected to be finalized by the end of May. No financial details were offered. Macrofinanciera has assets totaling $15.4 million (34.4 billion pesos).