Helm Controller Says No ‘Definitive’ Deal Reached for Stake Sale

Helm Corp., the holding company that controls Helm Bank SA (PFBHELMB), said it is studying options for its controlling stake in the Bogota-based lender and that no “definitive” agreement has been reached.

The holding company said in a regulatory filing after the market closed that it “continues in the process of evaluating different strategic business alternatives for the bank and no definitive transaction has been finalized.”

La Republica newspaper reported Aug. 6 that Chile’s Corpbanca (CORPBANC) agreed to acquire Helm Bank for more than $1.3 billion.

Speculation about a takeover has helped drive Helm Bank up 62 percent this year, outpacing the benchmark IGBC Index’s 9.5 percent gain.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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