Inversiones Nacionales de Turismo S.A. (BVL:INTURSC1) signed an agreement to acquire 99.97% stake in Inversiones La Rioja S.A. (BVL:LARIOJC1) for an enterprise value of approximately $220 million on September 12, 2017. Shareholders representing 99.97% of La Rioja's share capital have agreed to sell their shares as part of the agreement. The transaction is subject to the completion of certain conditions precedents and is expected to close in the fourth quarter of 2017. Scotiabank acted as financial advisor to Inversiones La Rioja.