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Madrid 2,266 EUR -0,01 (-0,61 %)

CORPORATE | 7.20.2021

Increase in participation in MAPFRE PERÚ VIDA

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MAPFRE, through its subsidiary MAPFRE INTERNACIONAL which currently holds 67.4071 percent of the share capital of the Peruvian insurance company MAPFRE Perú Vida Compañía de Seguros y Reaseguros (“MPV”), has reached an initial agreement with various shareholders of said entity, who hold 32.17 percent of the share capital, by means of which it would acquire said shareholding either directly or indirectly through its subsidiaries registered in Peru. Additionally, MAPFRE intends to acquire the remaining shares corresponding to the 0.4229 percent of the share capital of MPV held by the remaining the shareholders.

In line with Peruvian regulation, when the acquisition exceeds 10 percent of the share capital of MAPFRE Perú Vida, it requires prior approval from the Superintendancy of Banking, Insurance and Pension Fund Management (“SBS” in Spanish). The amount of the transaction, if all shares were acquired, would be the equivalent in Peruvian sols of 130.37 million US dollars (110,86 million euros at today’s exchange rate) at the time the operation is carried out, once approved by the SBS.