Form 20-F x
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Form 40-F o
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Yes o
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No x
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Yes o
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No x
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Yes o
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No x
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CORPBANCA
(Registrant)
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By: | /s/ Eugenio Gigogne | |
Name: | Eugenio Gigogne | |
Title: | Chief Financial Officer |
Exhibit
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Description
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99.1
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Material event notice dated July 7, 2014.
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1.
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On July 4, 2014, CorpBanca (the "Bank") was informed by its controlling shareholder, Corp Group, that the International Finance Corporation ("IFC") formally announced on July 2 that IFC adopted the decision to request an investment bank for an evaluation concerning the terms and conditions of the pending merger with Banco Itaú Chile and the subsequent change of control of the merged Bank in favor of Itaú Unibanco, hereinafter the "Transaction". This evaluation would be in addition to those already issued by investment banks Bank of America Merrill Lynch and Goldman Sachs, which were considered in the approval of the Transaction by the Committee of Directors and the Board of Directors .
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2.
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As indicated by IFC, this assessment would be in the context of the analysis of IFC in deciding whether to grant its prior consent, which is necessary for the realization of the Transaction under the terms of the Transaction Agreement executed by and between CorpBanca and its controlling shareholder, on the one hand, and Banco Itaú Chile and its controlling shareholder, on the other hand, the text of which was published on the Bank’s website.
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3.
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It should be noted that CorpBanca, notwithstanding its compliance with all applicable Chilean and foreign laws and regulations in connection with the approval process for all acts and agreements contemplated by the Transaction, in response to the requirement by IFC and considering it in the best interest of CorpBanca and its shareholders, commissioned on June 10, 2014 an independent review conducted by the Centre for Corporate Governance and Capital Markets at the University of Chile. These results have not yet been delivered to the Bank, and once received, will be made public. IFC has already indicated that the report of the University of Chile is not sufficient for them.
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4.
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Moreover, as is publicly known, the Board of CorpBanca has provided its shareholders and the market in general all relevant information concerning the Transaction, beyond what is required and customary to publish for this type of transaction. The aforementioned information is available on CorpBanca’s website at www.corpbanca.cl.
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