2009 DEC 27 - (VerticalNews.com) -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by Grupo Nacional de Chocolates, S.A. as the depositary bank for its American depositary receipt (ADR) program. Each Grupo Nacional de Chocolates ADR represents one common share and trades on the over-the-counter (OTC) market. The common shares trade on the Bolsa de Valores de Colombia under the symbol "CHOCOLATES."
Grupo Nacional de Chocolates is a Colombia-based company that invests in processed food businesses throughout its strategic region comprising the Andean Community, Central America, the Caribbean, Mexico and the Hispanic communities of the United States. Its portfolio includes companies in the cold cuts, biscuits, chocolates, coffee, ice cream and pasta businesses.
"We look forward to working with BNY Mellon to develop our ADR program," said Carlos Enrique Piedrahita, CEO of Grupo Nacional de Chocolates. "We selected BNY Mellon because of its unique focus on the depositary receipts market and we expect our program to benefit from its specialization and experience."
"Colombia is a focal market for us and Grupo Nacional de Chocolates is a well known brand," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "We plan to leverage this recognition with strategic IR initiatives to support the continued demand for Colombian ADRs."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.1 trillion in assets under custody and administration and $966 billion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
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