Colombia and Peru Merge Bourses

The Colombian and Peru stock markets have agreed to merge, creating a combined entity with $45.8m in revenue and $22.4m in Ebitda. Shareholders in Bolsa de Valores de Lima (BVL) will receive a 36% stake in the newly combined entity, while shareholders of Bolsa de Valores de Colombia (BVC), will hold the rest. BVL has a $195m market cap while BVC has a $434m market cap. BVL was advised by APOYO Consultoria, while BVC was advised by Estrategias Corporativas in Colombia and LXG Capital in Peru. The merger is separate from announced plans for the 2 exchanges to integrate operations with the Chilean bourse in order to create a super-regional bolsa.