 Grupo Aval, Colombias largest financial conglomerate, said on Thursday it had agreed to buy Panamas Multibank Financial Group MFG, giving it a higher profile in Central America. The transaction - which Aval will conduct through its subsidiary Banco de Bogota - will close in the second quarter of 2020, after completing a regulatory process, the company said in a statement to Colombias financial regulator. This attractive transaction is complementary to the type of businesses that the company already participates in in Panama, Grupo Aval president Luis Carlos Sarmiento said in the statement. 