BTG Pactual Chile SA Compania de Seguros de Vida on Sept. 3 said its shareholders, BTG Pactual Chile SpA and BTG Pactual Chile Servicios Financieros SA, agreed to sell 100% of the company's share capital for 1.8 million UF.
Under a share purchase contract, holding company DT Rigel SA acquired 10,396,100 shares of the insurance company owned by BTG Pactual Chile, equivalent to a 99.99999% stake. Meanwhile, Vitacura Dos bought a share, or a 0.00001% stake, held by BTG Pactual Servicios Financieros.
The transaction is expected to close within 240 days, subject to the approval of financial regulator CMF and antitrust regulator FNE.
The unidad de fomento, or UF, is Chile's inflation-indexed unit and was worth 27,996.69 Chilean pesos as of Sept. 2.
As of Sept. 2, US$1 was equivalent to 724.29 Chilean pesos.
