Santander acquires 100% of Principal Compañía de Seguros de Vida Chile
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On January 19, Principal Compañía de Seguros de Vida Chile S.A. (the "company") announced that on the eve its shareholders -Principal International de Chile S.A. and Principal International Holding Company, LLC. (collectively, the "sellers")- entered into a stock purchase agreement in English, called Stock Purchase Agreement, with Banco Santander S.A. (Santander), through which the sale and transfer of 100% of the shares issued by the company to two Santander-affiliated companies incorporated under the laws of Chile was agreed. The closing of the operation was subject to the fulfillment of a series of customary precedent conditions for this type of transaction, including obtaining the corresponding governmental authorizations. Having fulfilled such precedent conditions for the closing of the operation, yesterday Santander Retirement Services Chile S.A. and Teatinos Siglo XXI Inversiones S.A., both Santander subsidiaries incorporated under the laws of Chile, have acquired, respectively, 4,186,089 and 23 shares issued by the company, jointly equivalent to 100% of the subscribed and paid shares thereof, resulting in the consequent change of control of the company. New Board of Directors In an extraordinary board meeting of Principal Compañía de Seguros de Vida Chile, held on this same date, directors Juan Pablo Cofré Dougnac, Valentin Carril Muñoz, Marcela Blaquier, Brooke...
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