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As a result of this acquisition, Itaú Unibanco’s interest in Itaú Chile increased from 38.13% to approximately 39.22%
In the midst of the complex financial situation of the CorpGroup Banking holding, linked to the Saieh group, the businessman exercised a clause of the shareholder agreement that he has with Itaú Unibanco and sold approximately 1% of ItaúCorpbanca in an operation that had been developing since last year and that it now had the corresponding regulatory authorizations.
The information was released by Itaú by means of an essential fact to the Financial Market Commission (CMF) detailing that it is the transfer of 5,558,780,153 shares, belonging to Compañía Inmobiliaria y de Inversiones Saga, company linked to the employer, and which were disposed of in $ 33,138 million (about US $ 43 million).
As reported by CorpGroup, The resources obtained from this sale will go 100% to pay a bridge loan signed by Saga in April 2019, the date on which this right was exercised.
According to the information provided by Itaú Chile, this operation was provided for in the bank’s shareholders’ agreement, signed between Itaú Unibanco and CorpGroup in April 2016, and is part of the in the partial fiscal year carried out on April 08 and 29, 2019, by Corp Group Holding Inversiones Ltda., Corp Group Interhold SpA and Inversiones Gasa Ltda., of the put option to Itaú Unibanco of shares owned by its subsidiary Saga in Itaú Corpbanca.
The foregoing, given that from the dividend agreed to distribute at the Itaú Corpbanca Ordinary Shareholders’ Meeting held in March last year, charged to 2018 profits, which are equivalent to US $ 77.6 million, Corp Group received a lower amount. to US $ 120,000,000.
As a result of this acquisition, Itaú Unibanco’s interest in Itaú Chile increased from 38.13% to approximately 39.22%
Saieh’s capital problems
A few days ago, CorpGroup acknowledged to the United States Securities and Exchange Commission (SEC) that it is experiencing capital problems and that it hired banks and lawyers to structure its debts, since this September 15 it must pay the semiannual interest on a bond for US $ 500 million with a ten-year term that it issued in 2013.
It may interest you: Jorge Andrés Saieh assumes a key role in the negotiation of CorpGroup and its financial creditors
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