Completion of RSA Colombia acquisition
In compliance with the duties to disclose material information, Grupo de Inversiones Suramericana S.A. (Grupo SURA) informs that today its subsidiary Suramericana S.A. has formalized the acquisition of 98.49% of the shares of the Colombian insurer Royal & Sun Alliance Seguros (Colombia) S.A. (RSA Colombia). In addition, Grupo SURA indirectly acquires through the foregoing, 99.99% of the shares of Financia Expreso RSA S.A. - a Colombian corporation devoted to investments in movable and immovable goods and to other activities to meet said purpose – plus 50.99% of the shares of Protección Garantizada LTDA, a Colombian corporation devote to insurance brokerage. With regards to RSA Colombia, the necessary procedures to merge this entity with Seguros Generales Suramericana S.A. will promptly begin, the insurance company currently owned by Suramericana S.A. in Colombia. After signing the Purchase Agreement to acquire the assets of RSA in Latin America, which was reported to the market on September 2015, the transaction pertaining to Colombia was approved by the Superintendencia de Industria y Comercio (SIC) (Superintendency of Industry and Commerce) and by the Colombian Superintendencia Financiera without any objections. The completion of the acquisition in Colombia is added to the completion of the acquisition in Brazil and informed this past February; authorities from Mexico, Chile, Argentina and Uruguay are expected to also issue this approval in due course. Hence, RSA Colombia, Financia Expreso RSA and Protección Garantizada are now part of the SURA conglomerate.