Bupa acquisition in Chile

Grupo Bupa Sanitas SL, a Spanish health services provider, agreed to acquire control of Chile’s Cruz Blanca Salud SA.

Cruz Blanca reported in a filing with Chile’s securities regulator that Bupa Sanitas will offer 525 pesos per share in a public tender in Santiago for at least 50 percent plus one share and for as much as 56 percent. Bupa Sanitas may begin the public tender offer in January after completing due diligence. The deal values Cruz Blanca at about $638 million.

“The goal of this plan is to continue developing the company together with a leading international partner such as Bupa Sanitas,” Cruz Blanca Chairman Salvador Said Somavia said in the statement.


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