MEDELLIN, Colombia, Oct. 6 /PRNewswire-FirstCall/ -- On October 3, 2008, Bancolombia S.A. ("Bancolombia") made an in-kind contribution of 38 real estate properties to private equity fund Colombia Inmobiliaria ("Colombia Inmobiliaria"). The 38 properties are valued at approximately Ps. 2,034,874,029. Colombia Inmobiliaria will be managed by Bancolombia's subsidiary Fiduciaria Bancolombia S.A.
In exchange for its contribution, Bancolombia will receive securities issued by Colombia Inmobiliaria. These securities are expected to be traded on the Colombian Stock Exchange.
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