Detalles de la noticia

The Board of Directors of Grupo Supervielle S.A., together with our subsidiary Banco Supervielle S.A. (collectively «Supervielle»), has resolved to accept an offer received from Ciudad Microempresas S.A., a company whose shareholders are Corporación Buenos Aires Sur and Banco de la Ciudad de Buenos Aires, to purchase the totality of shares of Supervielle’s subsidiary Cordial Microfinanzas S.A..

The transaction, once consummated, will comprise all the shares of Cordial Microfinanzas S.A. owned by Grupo Supervielle S.A. and Banco Supervielle S.A., as detailed below:

• 1. Grupo Supervielle S.A.: twelve million two hundred nineteen thousand four hundred seventy-two (12,219,472) shares, representing 87.5% of the capital stock of Cordial Microfinanzas S.A., and
• 2. Banco Supervielle S.A.: one million seven hundred forty-five thousand six hundred thirty-two (1,745,632) shares, representing 12.5% ​​of the capital stock of Cordial Microfinanzas S.A..

Closing of the transaction is subject to the prior satisfaction of the conditions contained in the offer, and the closing will be announced as soon as it occurs. The price offered and accepted totals Ps. 46,500,000, and will be paid on the actual date of the closing of the transaction.

As of December 31, 2016, Cordial Microfinanzas operated through 5 branches, had a total loan portfolio of Ps. 192 million, and held assets representing 0.39% of the total assets of Grupo Supervielle. Its contribution to the net income of Grupo Supervielle in 2016 was 0.78%.

Cordial Microfinanzas S.A. was created in 2007 by Grupo Supervielle S.A. to service the microfinance market in Argentina and with the objective of providing technical and financial assistance to micro-entrepreneurs to meet the needs related to their productive, commercial and service activities, thereby contributing to the development of their entrepreneurial capacity. This sale comes as a result of the need to focus Supervielle’s resources in designated strategic segments.