Grupo de Inversiones Suramericana S.A. ("Grupo SURA") hereby announces that today its subsidiary PROTECCIÓN S.A., entered into a share purchase agreement (the "Agreement") with Centro Financiero Crecer, S.A., a Panamanian company that operates in the Central American and the Caribbean financial markets, whereby PROTECCIÓN S.A. shall divest all of the shares it owns in Administradora de Fondos de Pensiones Crecer S.A., a joint stock company, incorporated and domiciled in El Salvador.
In exchange for these shares, Centro Financiero Crecer S.A. shall pay PROTECCIÓN S.A. the sum of USD 60 million.
With this divestiture, PROTECCIÓN S.A. seeks to concentrate on developing its own business and capitalizing on growth opportunities, while focusing its capital on local businesses in accordance with its organizational strategy.
The closing of the Agreement is subject to obtaining the required regulatory approvals.