trending Market Intelligence /marketintelligence/en/news-insights/trending/PyU0VE0ZWZ82-SLhVKTyOw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

ILC inks deal to buy remaining stake in Confuturo

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


ILC inks deal to buy remaining stake in Confuturo

, orILC, signed a deal with Corp GroupBanking SA, Fondo de Inversión Privado Corp Life and Corp Group InterholdSpA, to acquire the group's remaining shares in holding company Inversiones Confuturo,formerly known as Corp Group VidaChile SA, for 49.27 billion Chilean pesos, ILC said in a securitiesfiling.

Whenthe deal closes, which is expected to happen in June, ILC will buy 488.49 millionshares from Corp Group to give ILC a 100% stake in Compañía de Seguros Confuturo SA, formerly CorpVida, andCompañía de Seguros CorpSeguros SA.

In November2013, ILC acquired CorpVida and Corpseguros through its purchase of a 67% stakein Corp Group Vida Chile and later rebrandedCorpVida as Confuturo.

Underthat original agreement, Corp Group retained the right to sell its remaining sharesto ILC in the future.

As of May 5, US$1 was worth 668.21Chilean pesos.