Arias, Fábrega & Fábrega has helped Chile's Corpbanca buy Helm Bank for US$1.28 billion to become the sixth-largestt bank in Colombia.

Under the agreement, Corpbanca will gain 91 per cent of Helm's ordinary shares (with plans to acquire the remaining 9 per cent held by the bank's minority holders in Colombia) and has agreed to pay US$17 million for an 80 per cent stake in Helm's insurance unit.