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Mutua Madrileña completes acquisition of minority stakes in Bci, Zenit insurance units

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Mutua Madrileña completes acquisition of minority stakes in Bci, Zenit insurance units

Chileanholding company Empresas JuanYarur S.P.A. has completed the sale of a 40% stake in insurancesubsidiaries BCI SegurosGenerales S.A., BCISeguros Vida S.A. and Zenit Seguros Generales S.A. to Spain's , thecompany told Chilean securities regulator SVS in a May 10 filing.

MutuaMadrileña Automovilista paid a total 156.97 billion Chilean pesos for thestakes in the three insurance units, the filing said.

Accordingto the agreement,which was signed in November 2015, the Spanish firm could expand itsparticipation to obtain a majority stake in the insurance units. Empresas JuanYarur also owns Banco de Creditoe Inversiones SA, or Bci.

As of May 9, US$1 was worth669.35 Chilean pesos.