Agreement for the acquisition of RSA insurance assets in Latin America
In addition to the material information dated September 7, Grupo de Inversiones Suramericana S.A. informs the following:
Suramericana S.A., Grupo SURA´s insurance and risk management subsidiary, executed an agreement to acquire RSA Insurance Group plc´s operations in Latin America, for an approximate amount of USD 614 million (GBP 403 million), situation that was timely informed to the market.
Approximately 70% of the value of the transaction will be obtained through capitalization from Grupo SURA and Munich Re (Suramericana’s shareholders), the remaining 30% will be from cash in hand and financing from third parties. The price will be paid at the closing in each jurisdiction, after obtaining the regulatory approval in every country. It is expected that the whole closing will take a maximum period of 18 months after the execution of the acquisition agreement.
Once the transaction has closed in all countries, the shares acquired in each of the companies will be the following:
In Colombia
Royal & Sun Alliance Seguros (Colombia) S.A. 98.4954% Financia Expreso RSA S.A.99.9997%
In México
Royal & Sun Alliance Seguros (Mexico) S.A. de C.V.100%
In Chile
RSA Seguros Chile S.A. 99.4976% RSA Seguros de Vida S.A. 100% RSA Chilean Holding SpA. 100% Inversiones RSA Chile Limitada 100% Servicios y Ventas Compañía Limitada 100%
In Brazil
Royal & Sun Alliance Seguros (Brasil) S.A.99.9995%
In Argentina
Atlantis Sociedad Inversora S.A. 100% Santa Maria del Sol S.A. 100% Royal & Sun Alliance Seguros (Argentina) S.A.99.35%% Aseguradora de Créditos y Garantías S.A. 99.99%
In Uruguay
Royal & Sun Alliance Seguros (Uruguay) S.A. 100%