Banco Internacional agreed to acquire a 51% stake in Autofin S.A. from Frontal Trust fund, managed by Frontal Trust S.A. and Inversiones y Rentas Bilbao SA.

Banco Internacional (SNSE:BINT) agreed to acquire a 51% stake in Autofin S.A. from Frontal Trust fund, managed by Frontal Trust S.A. and Inversiones y Rentas Bilbao SA on August 12, 2022. Post completion, Frontal will retain 34.3% stake and and Inversiones y Rentas Bilbao will retain 14.7% stake in Autofin. The transaction is subject to regulatory authorizations, including that of the National Economic Prosecutor's Office (FNE).

On December 14, 2022, the National Economic Prosecutor's Office approved unconditionally the transaction.