Corpbanca Said to Hire Goldman, Bofa to Sell Stake in Bank

Billionaire Alvaro Saieh hired Goldman Sachs Group Inc. and Bank of America Corp. to sell a controlling stake in Corpbanca, according to two people familiar with the matter.

Itau Unibanco Holding SA is one of the banks they have approached, said one of the two people, who asked not to be named because the negotiations are private. Santiago-based Corpbanca has a market value of $4.22 billion. Saieh and his family directly and indirectly own 76 percent of the bank, according to its most recent annual report.