BHD and Leon join forces and become one entity
The new financial entity will be called Banco BHD Leon
Diario Libre
SD. The Centro Financiero BHD and the Grupo Financiero Leon officially announced the signing of an agreement, which has been approved by the Monetary Board, for the integration of the two entities.
During a meeting with reporters and executives of the media, the presidents of the Centro Financiero BHD, Luis Molina Achecar, and of the Grupo Financiero Leon, Carlos Guillermo Leon, offered the details of the fusion of the two entities which when the operation finalizes will be called the Centro Financiero BHD Leon (the BHD Financial Center) and will be headed by Molina Achecar with Carlos Guillermo Leon as the vice-president.
"There is no bad business with good people and we are associating ourselves with good people," said Molina Achecar, who noted that the fusion seeks to make a better proposal and create more value and welfare for its clients.
The information offered indicates that beginning with the close of this operation, they foresee that the Centro Financiero BHD Leon will have assets of RD$23 billion and will be made up of companies such as Banco BHD, Banco León, BHD International Bank Panama, BHD Valores, Valores León, AFP Siembra, ARS Palic Salud, Mapfre BHD, Fiduciaria BHD, BHD Fondos, Tecnocom, and the Compañía Nacional de Seguridad (CONASE).
The principle executives of the financial entities said that with this alliance they are reaffirming their confidence in the investment climate of the country as well as their commitment with the strengthening of the financial sector and the economic and social development of the Dominican Republic.
As the conclusion of the authorization process, the presidency o the Banco BHD Leon will be held by Molina Achecar and the General Manager will be Steven Puig, a former director of the Inter American Development Bank (IADB).
With this negotiation, the Grupo Financiero Leon will become an important shareholder of the Centro Financiero BHD Leon. In addition the shareholders of the Centro Financiero BHD as well as the Leon family are in the process of acquiring the shares that the Sabadell Bank (Spain) has in the Centro Financiero BHD, reaffirming their commitment with the Dominican financial sector.
Molina Achecar said that the first stage of this negotiation, which includes the fusion of the two financial groups which will function independently with the banks, will be carried out in January of next year, because they have received the approval of the Superintendency of Banks and all that remains is to make some investments for which the contracts have already been signed.
"The ideal date for doing a transaction of this nature is to do it in January, because they can close the books on 31 December and each company can be audited, then these companies can contribute to the values of 31 December," said Achecar.
Shareholder composition of BHD Leon
Luis Molina Achecar said that the Group and its associates will have 50% of the shares and Banco Leon 25% together with that part of the purchase of the shares that Sabadell Bank of Spain has in the Centro Financiero BHD and the rest will remain in the other shareholders possession.
"The idea is that in the medium term there will be a relation of 50%, 30% and 20%," said Molina Achecar during the activity held in the El Embajador Hotel.
During a meeting with reporters and executives of the media, the presidents of the Centro Financiero BHD, Luis Molina Achecar, and of the Grupo Financiero Leon, Carlos Guillermo Leon, offered the details of the fusion of the two entities which when the operation finalizes will be called the Centro Financiero BHD Leon (the BHD Financial Center) and will be headed by Molina Achecar with Carlos Guillermo Leon as the vice-president.
"There is no bad business with good people and we are associating ourselves with good people," said Molina Achecar, who noted that the fusion seeks to make a better proposal and create more value and welfare for its clients.
The information offered indicates that beginning with the close of this operation, they foresee that the Centro Financiero BHD Leon will have assets of RD$23 billion and will be made up of companies such as Banco BHD, Banco León, BHD International Bank Panama, BHD Valores, Valores León, AFP Siembra, ARS Palic Salud, Mapfre BHD, Fiduciaria BHD, BHD Fondos, Tecnocom, and the Compañía Nacional de Seguridad (CONASE).
The principle executives of the financial entities said that with this alliance they are reaffirming their confidence in the investment climate of the country as well as their commitment with the strengthening of the financial sector and the economic and social development of the Dominican Republic.
As the conclusion of the authorization process, the presidency o the Banco BHD Leon will be held by Molina Achecar and the General Manager will be Steven Puig, a former director of the Inter American Development Bank (IADB).
With this negotiation, the Grupo Financiero Leon will become an important shareholder of the Centro Financiero BHD Leon. In addition the shareholders of the Centro Financiero BHD as well as the Leon family are in the process of acquiring the shares that the Sabadell Bank (Spain) has in the Centro Financiero BHD, reaffirming their commitment with the Dominican financial sector.
Molina Achecar said that the first stage of this negotiation, which includes the fusion of the two financial groups which will function independently with the banks, will be carried out in January of next year, because they have received the approval of the Superintendency of Banks and all that remains is to make some investments for which the contracts have already been signed.
"The ideal date for doing a transaction of this nature is to do it in January, because they can close the books on 31 December and each company can be audited, then these companies can contribute to the values of 31 December," said Achecar.
Shareholder composition of BHD Leon
Luis Molina Achecar said that the Group and its associates will have 50% of the shares and Banco Leon 25% together with that part of the purchase of the shares that Sabadell Bank of Spain has in the Centro Financiero BHD and the rest will remain in the other shareholders possession.
"The idea is that in the medium term there will be a relation of 50%, 30% and 20%," said Molina Achecar during the activity held in the El Embajador Hotel.
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