The Financial Superintendence of Colombia approved the purchase of WW Bank shares by the Social Grupo Foundation. This means that the first step was taken to consolidate this transaction that will take place in the next few days. The green light of the financial regulatory entity is a legal requirement.
The operation that is sought to close is that the Social Group Foundation acquires 51% of the banking entity, which would leave 49% for the company’s WWB Foundation of the company.
THE GRUPO SOCIA FOUNDATIONl, through some entities that integrate it, It will have 51% with the Social Grupo Foundation with 48%, Foundation for Local Integral Development with 2% and Entrepreneurship Foundation with 1%.
Juan Carlos Gómez, president of the Social Grupo Foundation, said about the acquisition that “The approval of this operation by the Financial Superintendence represents a firm step in the consolidation of our historical commitment to financial inclusion.”
Gomez added that “this alliance with the WWB Colombia Foundation occurs because we share the genuine purpose of the search for the common good, the generation of positive social impact and the opening of roads of inclusion and generation of opportunities for the population in poverty and vulnerability ”.
