Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K filing by Credicorp Ltd. reports a material event for the month of September 2009, dated September 29, 2009. The filing notifies the U.S. Securities and Exchange Commission and the Peruvian regulator (CONASEV) of a strategic acquisition by Credicorp's subsidiary, Banco de Crédito del Perú.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margin, debt, or liquidity metrics for Credicorp Ltd. The only specific financial figure disclosed relates to the transaction value of the material event:
- Acquisition Value: US$8,191,419.44 for an 8.5% stake in Financiera Edyficar.
- Funding Source: The acquisition is funded with Banco de Crédito del Perú's own funds.
Material Changes
The primary material change is the expansion of Credicorp's ownership in Financiera Edyficar:
- Transaction: Banco de Crédito del Perú acquired an additional 8.5% of Financiera Edyficar from Microvest I L.P.
- Resulting Ownership: Post-transaction, Banco de Crédito del Perú will hold approximately 85.7% of Financiera Edyficar's total stock.
- Regulatory Status: The transaction is subject to approval by the Superintendency of Banks, Insurance and Pension Funds.
Outlook, Risks, and Unusual Items
Future Obligations: The filing notes that this deal will trigger a requirement for a public stock offering to acquire the remaining shares from other shareholders, in accordance with Peruvian capital market regulations.
Risks and Contingencies: The completion of the transaction is contingent upon regulatory approval from the Superintendency of Banks, Insurance and Pension Funds. No other risks or unusual items are detailed in this specific filing.
Key Facts for Investor Verification
- Verify the final approval status of the transaction by the Superintendency of Banks, Insurance and Pension Funds.
- Monitor the timeline and terms of the required public stock offering for the remaining shares of Financiera Edyficar.
- Confirm the impact of this acquisition on Credicorp's consolidated financial statements in subsequent quarterly or annual reports.