BCI sells its 40% of its insurance companies to Mutua MadrileñaJanuary 4, 2016, by - LATIN LAWYER
Uría Menéndez in Madrid and its sister firm Philippi Prietocarrizosa & Uría (Chile) has helped Spanish insurer Mutua Madrileña Automovilista buy a stake in the insurance businesses of Chilean bank Banco de Credito e Inversiones (BCI).
BCI’s holding company, Empresas Juan Yarur, hired Chilean firm Carey for the deal. Mutua Madrileña paid US$228 million for a 40 per cent stake in BCI Seguros, which includes subsidiaries BCI Seguros Generales, BCI Seguros Vida, Zenit Seguros Generales and Auxilia Club Asistencia.
The transaction was signed on 30 November. It marks the first time the Madrid-based insurer has made an international acquisition. BCI will continue to own the remaining 60 per cent of its insurance subsidiaries.
Counsel to Mutua Madrileña Automovilista
Partners Eduardo Rodríguez-Rovira in Madrid and Rafael Jiménez Mateo in Santiago
Philippi Prietocarrizosa & Uría (Chile)
Partner Alberto Pulido and associate María Fernanda Peters in Santiago
Counsel to Empresas Juan Yarur
Partner Diego Peralta and associates Elvira Vial, Gabriel Acuña, Paluska Solar and Vesna Camelio in Santiago