Grupo Cibest Announces Agreement for the Sale of Banistmo S.A.

Grupo Cibest S.A. has entered into a promise to purchase shares agreement with Inversiones Cuscatlán Centroamérica S.A. for the sale of 100% of the shares of Banistmo S.A. for USD $1.418 billion. Banistmo, acquired by Grupo Cibest in October 2013, is a financial entity in Panama. The agreed sale price is based on a Price/Earnings ratio of 17.1x and a Price/Book Value ratio of 1.2x, and is subject to customary closing adjustments and regulatory approvals in Panama. The spin-off of Valores Banistmo from Banistmo is complete, and Valores Banistmo will remain part of Grupo Cibest’s capital markets offerings. J.P. Morgan Securities LLC is acting as financial advisor, with Sullivan & Cromwell LLP and Alemán, Cordero, Galindo & Lee as legal advisors to Grupo Cibest.