On the 30th of May, it was reported that Banco Santander Chile had received from Banco Santander SA, an offer to purchase all of the shares of its subsidiary Santander Asset Management. This offer also contains a contractual agreement for the brokerage of asset management services between the Bank and the Asset Management business, for a period of 20 years maximum. As mentioned at that time, the offer would be reviewed internally and by independent evaluators.
On September 16, we have received reports commissioned by the Bank`s Board and Audit Committee of Directors and independent evaluators to Ernst & Young and Claro y Associates, respectively, which are available to the shareholders at www.santander.cl section "Shareholders" and the Bank`s main office located at 140 Bandera.
As announced in May, the new holding company, composed of Santander, Warburg Pincus and General Atlantic, will concentrate the stakes of the Group`s subsidiaries in each of the countries in which Santander is present in the Asset Management business. The main goal of this transformation is to enhance the quality and variety of asset management products to be marketed by Banco Santander, a global management focused on value-added products and close and collaborative relationship with various distribution networks.
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Source: Banco Santander-Chile via Thomson Reuters ONE