Information published in Newspaper El Tiempo on December 27, 2004.
By the end of 2004, Banco Davivienda S.A., agreed with the main shareholders of Banco Superior S.A. on acquiring the latter by merger. The purpose of this operation was mainly focused on the acquisition of specialized goods and services related with credit cards and the franchise of Diners Credit Card offered by Banco Superior S.A.. This would allow Davivienda to have the composition of a more complete and detailed portfolio in terms of consumer credit through credit cards.
Finally, in 2005, prior approval from the Financial Superintendence, Davivienda acquired 97.89% of Banco Superior S.A. and in 2006, a merger by absorption of Banco Superior S.A. was made by Davivienda.
It should be noted that as a result of this acquisition, other affiliates of Banco Superior were acquired, such as Fidusuperior S.A., Ediciones Gamma S.A. (which has traditionally been known as the publisher of Diners Magazine) and Promociones y Cobranzas Beta S.A.
