Banco Santander-Chile cancelled the acquisition of 33.33% Servipag Limitada from Banco de Chile and Banco de Crédito e Inversiones.
July 19, 2018
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Banco Santander-Chile (SNSE:BSANTANDER) agreed to acquire 33.33% Servipag Limitada from Banco de Chile (SNSE:CHILE) and Banco de Crédito e Inversiones (SNSE:BCI) on January 10, 2018. Banco de Crédito e Inversiones and Banco de Chile will hold 33.33% stake in Servipag each after the transaction, with Santander Chile holding the remaining one-third stake. The acquisition is subject to approval from the Chilean competition watchdog.
Banco Santander-Chile (SNSE:BSANTANDER) cancelled the acquisition of 33.33% Servipag Limitada from Banco de Chile (SNSE:CHILE) and Banco de Crédito e Inversiones (SNSE:BCI) on July 20, 2018. The competition autority of Chile, FNE rejected the bid.
Banco de Credito e Inversiones is a Chile-based financial institution (the Bank) engaged in the banking sector. The Bank's activities are divided into six segments: Retail banking, which offers current accounts, credit cards, personal loans and insurance products, among others, to individuals; Small and medium-sized enterprises, which provides financing, cash management, factoring and leasing, among others, to microenterprises and companies; Commercial banking, which includes services rendered to corporations, such as real estate and leasing companies; Corporate & Investment Banking Commercial Division, which provides investment solutions to large corporations, financial institutions and high net worth investors; Corporate & Investment Banking Finance Division, which offers sales and trading solutions to institutional investors, and BCI Financial Group, which includes operations of City National Bank of Florida in Chile. The Bank is controlled by Empresas Juan Yarur SAC.
BANCO DE CRÉDITO E INVERSIONES 
