UnitedHealth Group Incorporated (NYSE:UNH) signed a non-binding agreement to acquire Banmédica S.A. (SNSE:BANMEDICA) from Inversiones Santa Valeria Ltda, Empresas Penta S.A., Fernández León and other shareholders for CLP 1.7 trillion on September 8, 2017. UnitedHealth Group signed a definitive purchase agreement to acquire Banmédica S.A. from Inversiones Santa Valeria Ltda and Empresas Penta S.A. on December 21, 2017. UnitedHealth offered CLP 2,150 per share. The two controlling shareholders of Banmédica, Empresas Penta and Fernández León, will offer all of their shares. The tender offer is expected to commence on or about December 27, 2017 and conclude on or about January 25, 2018. The transaction is subject to customary terms and conditions. The transaction is expected to close in the first quarter of 2018. Rodrigo Ochagavía, Gerardo Otero, Andrés Del Sante, María Jesús Muñoz and Felipe Ríos of Claro Y Cia acted as legal advisors for Empresas Penta S.A. and Inversiones Santa Valeria Ltda. BTG Pactual acted as financial advisor and Jaime Carey, Cristián Eyzaguirre, Francisco Guzmán, Marco Antonio Muñoz, Manuel Alcalde, Nicolás Calderón, Sergio Mesías and Carlos Alcalde of Carey y Cía acted as legal advisors for UnitedHealth Group. Dorsey & Whitney LLP acted as the legal advisor for UnitedHealth Group. Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as the financial advisor for UnitedHealth Group.

Sergio Galvis, Keith Pagnani, Werner Ahlers, Davis Wang, Neal McKnight, Lucas Carsley, Mateo Todd Aceves, Michael Hogan, Joshua Lerner, Mehdi Ansari, Joshua Steinberger, Ben Perry, Guillermo Arribas and Anna Chirou of Sullivan & Cromwell LLP, Evan Koster and Gregory Hafkin of Hogan Lovells US LLP, Jean Paul Chabaneix, Maria del Carmen Alvarado, Augusto Caceres, Mariana Delgado, Jose Diego Ruiz Huidobro, Marco Zaldivar and Mariana Gonzalez-Prada of Rodrigo Elías & Medrano Abogados and Jaime Robledo, Sergio Michelsen, Jeison Larrota, Luis Miguel Centanaro, Natalia Gutiérrez De Larrauri and María Villegas of Brigard & Urrutia Abogados acted as legal advisors to UnitedHealth Group. David Grosgold of Debevoise & Plimpton LLP acted as legal advisor to Empresas Penta S.A. and Inversiones Santa Valeria Ltda. Alfredo Alcaíno, Victoria Ripoll, Rodrigo Muñoz, Benjamín Alcaíno and Andrés Rodríguez of Alcaíno Abogados acted as legal advisors to Empresas Penta S.A. and Fernández Léon. Fernando Tori, Claudia Plasencia, Edwin Sarmiento, María Javiera Contreras, Darío Romero, Claudio Aracena, Aleksan Oundjan, Luis Villareal, Maryann D'Angelo and Sarah Tennant of Ernst & Young Global Limited acted as accountants to UnitedHealth Group.

UnitedHealth Group Incorporated (NYSE:UNH) completed the acquisition of 96.8% stake in Banmédica S.A. (SNSE:BANMEDICA) from Inversiones Santa Valeria Ltda, Empresas Penta S.A. and other shareholders for CLP 1.7 trillion on January 31, 2018.