Credicorp Buys Alico's Pacifico Stakes

Credicorp Buys Alico's Pacifico Stakes

Peru M&A

Peruvian financial conglomerate Credicorp says it is acquiring a 20.1% stake in Pacifico Seguros and a 38.0% stake in Pacifico Vida from US-based American Life Insurance Co. (Alico) for $170m in cash. Alico is owned by AIG through a SPV, though the parent is in the process of selling the company to MetLife. The acquisition of the Pacifico shares brings Credicorp's stakes in Pacifico Seguros to 96% and to 100% in Pacifico Vida. "These are acquisitions that we have been planning ever since AIG ran

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial