Carey instructed on BBVA fund manager sale in Chile
Carey advised BBVA Rentas e Inversiones in the sale of 40% of its shares in Administradora de Fondos de Cesantía de Chile II (AFC Chile), one of Chile’s unemployment fund managers.
The deal is still subject to approval by Chile’s Secretary of Treasury and Secretary of Labour. AFP Provida, the country’s pension fund manager, acquired the 40% stake for approximately $14.5 million.
Partner Diego Peralta led the Carey team acting for the sellers BBVA Rentas e Inversiones while the buyers AFP Provida instructed Prieto y Cía.