In compliance with our relevant information reporting obligations, Grupo de Inversiones Suramericana S.A. ("Grupo SURA") hereby announces that today its subsidiary Suramericana S.A. has entered into a share purchase agreement (the "Transaction") whereby it is selling its operations in El Salvador. This agreement governs the sale of 679,791 shares held by Seguros Sura S.A. and 349,985 shares indirectly held by its Personal Insurance Division, Seguros Sura S.A. Seguros de Personas, both companies domiciled in El Salvador and known as Asesuisa. This stake is being sold to the Company, Interamericana Holding Group S.A., which belongs to Grupo Financiero Ficohsa.
With this Transaction, Suramericana S.A. is selling its entire stake in its insurance business in El Salvador (Asesuisa) for a price of USD 43,700,850, this with a view to restructuring its operations in Latin America and optimizing its capital management function in order to consolidate and maintain its regional footprint.
This Transaction is subject to the corresponding approvals being granted by the Superintendencia del Sistema Financiero (Superintendency of the Financial System) and the Superintendencia de Competencia (Superintendency of Competition) both in El Salvador as well as the Superintendencia de Bancos (Banking Superintendency) in Panama.