Business Latin America

  Betsson Group opens new Latin America Operations Center in Bogota "With this opening, Betsson continues with its purpose of achieving a geographically diversified growth, where the Latin American markets have become one of the main sources of income," the company noted. Source: YOGONET On November 22, sports betting and online casino operator Betsson Group inaugurated its operations center for Latin America in the city of Bogota, Colombia. Media and private and public sector entities, including Fecoljuegos (Colombian Federation of Gaming Businessmen), attended the event. "Latin America is a special region for us, so I am especially happy about the opening of this new operations center in Bogota. I am confident that, thanks to the talent present in the company, we will continue our progressive growth in the region and contribute to the development of an industry based on responsible entertainment," said Jesper Svenson, CEO of Betsson Group. In the third q

  Near Foundation Joins Grupo Nutresa to Unveil Web3 Loyalty Program in Latin America The Near Foundation, the nonprofit organization behind the carbon-neutral blockchain of the same name, will be rolling out a loyalty points program for Grupo Nutresa, one of Latin America’s largest processed food companies.t is the first open-source loyalty program using the Near protocol and aims to reach one million consumers throughout the region. Source: CoinDesk The open-source loyalty program is said to be the first of its kind to use the Near protocol, and aims to reach a million users in Colombia and throughout Latin America, according to a press release. The deployment will begin before the end of the first quarter of 2023. Colombia-based Grupo Nutresa will assemble its existing loyalty programs onto one user-friendly platform supported by Near’s blockchain technology. The new program will eliminate the need for users to hold multiple accounts and will provide Grupo Nutresa with insig

  International Holding Company (IHC)  steps into Latin America with US$200 million investment in Lulo Colombia S.A . Colombia is the fourth global market IHC steps into in 10 months. The investment represents 49.9% of Lulo Bank's ownership. Lulo bank is the first fully digitalised bank in Colombia. Source: SAWYA Abu Dhabi, UAE: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today a capital investment of  AED 734 million (USD 200 million) in Lulo Colombia S.A., which is also the holding company of Colombia’s first regulated digital bank, Lulo Bank S.A. (“Bank”), through one of IHC’s subsidiaries. Lulo Bank is a fast-growing and new player that enters the field of neobanks in the Colombian market and plans to expand into other Latin American markets. The Bank was founded by Jaime Gilinski, a Colombian businessman with over 45 years of banking experience in Latin America, North America, and Europe. Commenting on th

  Glenfarne Announces Acquisition of Termonorte Power Plant in Colombia Glenfarne Asset Company, LLC (“Glenfarne”), a developer, owner, and operator of energy and infrastructure assets across the Americas, announced today it has acquired Termonorte Colombia S.A.S. (the “Plant” or “Termonorte”), a power plant located near the port of Santa Marta in Colombia. The acquisition reinforces Glenfarne’s commitment to providing grid stability to Colombia and the entire Latin American region. Source: Business Wire Termonorte has an installed capacity of 93 MW and began operations in December 2018. The Plant can operate on both natural gas and liquid fuels and is strategically located with a direct connection to the Promigas gas pipeline. “Termonorte plays a critical role for the energy transition in Colombia by offering a reliable, flexible generation resource in a region with limited firm capacity. Termonorte’s attributes are an ideal complement to the intermittent renewable generation

Colombia's Grupo Aval to buy Multibank Financial Group Grupo Aval, Colombia's largest financial conglomerate, said on Thursday it had agreed to buy Panama's Multibank Financial Group (MFG), giving it a higher profile in Central America. Grupo Aval GAA.CN, Colombia's largest financial conglomerate, said on Thursday it had agreed to buy Panama's Multibank Financial Group (MFG), giving it a higher profile in Central America. The transaction - which Aval will conduct through its subsidiary Banco de Bogota BBO.CN - will close in the second quarter of 2020, after completing a regulatory process, the company said in a statement to Colombia's financial regulator. It did not disclose the cost of the acquisition. As of June last year, MFG had consolidated assets of about $5 billion and equity of some $560 million. "This attractive transaction is complementary to the type of businesses that the company already participates in in Panama," Gr

Cargill Bolsters Protein Business with Colombian Chicken Acquisition Cargill expands its global protein business into Colombia with the acquisition of Pollos El Bucanero, one of the country’s leading producers of chicken and processed meat products. Cargill says the deal - which marks the company’s first introduction of its global protein business into Colombia - will serve Cargill’s Latin American customers and add around 5,000 employees to its team. Pollos Bucanero has more than 30 years of experience and its products are the preferred choice of food service companies and retailers in multiple regions of Colombia . The company works with more than 170 farms across the country to deliver high-quality protein options to its customers. Jorge Ivan Duque will serve as general manager of Cargill’s Pollos Bucanero business. He has spent the past 12 years working in the poultry sector in Central America and Colombia .  Pollos Bucanero will operate as part of Cargill Prot