Subsequent Event

9 Months Ended

Sep. 30, 2012

Subsequent Event

Subsequent Event

15.  Subsequent Event

On October 8, 2012, we announced the signing of a definitive agreement to acquire AFP Cuprum S.A. (“Cuprum”), a leading pension manager in Chile. The agreement requires Empresas Penta S.A. and Inversiones Banpenta Limitada to sell their 63% ownership in Cuprum pursuant to a public tender offer that will also include the remaining 37% of publicly traded shares. Based on current exchange rates, the purchase price for 100% of Cuprum is approximately $1.5 billion. The transaction is expected to close first quarter 2013, upon receipt of regulatory approval in Chile.