The diversified group of companies called Savia has announced that it has reached a final agreement with ING Group, under which the Dutch financial services company will acquire all of the remaining outstanding shares of the subsidiary that holds Seguros Comercial America (SCA) for a total consideration of US$791 million. This amount was based on an enterprise value of US$1,750 million. After the deal closes, ING will own 86.69% of the share capital of SCA. The remaining 13.31% is publicly traded
SCA's subsidiaries compose a wide array of profitable financial services companies. Among them, the leasing, factoring, mortgage and surety bonds operations have been awarded top ratings by Standard & Poors. SCA and its subsidiaries represent a solid growth platform for ING in Mexico.
