Administradora de Fondos de Pensiones Argentum S.A. agreed to acquire all the assets, equity and obligations of AFP Cuprum S.A. from Principal Financial Group Inc. and other shareholders for CLP 12.5 billion.

Administradora de Fondos de Pensiones Argentum S.A. agreed to acquire all the assets, equity and obligations of AFP Cuprum S.A. (SNSE:CUPRUM) from Principal Financial Group Inc. (NYSE:PFG) and other shareholders for CLP 12.5 billion in stock on December 30, 2014. AFP Argentum S.A. will issue 326.91 million shares to Cuprum shareholders. AFP Cuprum will cease to exist as a result of the merger.

The deal has been agreed on both General Meetings taken place on September 26, 2014 and December 9, 2014. On January 23, 2015, the process of exchange of shares began.