M&A Deal Summary

Principal Financial Group Acquires AFP Cuprum S.A.

On October 8, 2012, Principal Financial Group, Inc. acquired financial services company AFP Cuprum S.A. from Empresas Penta S.A. and Inversiones Banpenta Limitada for 1.5B USD

Acquisition Highlights
  • This is Principal Financial Group’s 1st transaction in the Financial Services sector.
  • This is Principal Financial Group’s 1st largest (disclosed) transaction.
  • This is Principal Financial Group’s 1st transaction in Chile.

M&A Deal Summary

Date 2012-10-08
Target AFP Cuprum S.A.
Sector Financial Services
Buyer(s) Principal Financial Group, Inc.
Sellers(s) Empresas Penta S.A.
Inversiones Banpenta Limitada
Deal Type Divestiture
Deal Value 1.5B USD

Target

AFP Cuprum S.A.

Santiago,, Chile
website
AFP Cuprum is a Chilean pension company with $32.1 billion in assets under management. Company products include mandatory defined contribution pensions (AFP), voluntary pensions, non-tax preferenced voluntary savings (CAV) and account drawdown at retirement (RP).

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Buyer(S) 1

Buyer

Principal Financial Group, Inc.

Des Moines, Idaho, United States

website


Category Company
Founded 1879
SectorInsurance
Employees17,400
Revenue 14.7B USD (2020)
DESCRIPTION

Principal is a global investment management offering retirement services, insurance solutions and asset management. Principal was founded in 1879 and is based in Des Moines, Iowa.


DEAL STATS #
Overall 2 of 7
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 5
Country (Chile) 1 of 1
Year (2012) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-13 First Dental Health

San Diego, California, United States

First Dental Health, a California-based independent dental preferred provider organization (PPO), includes more than 11,000 credentialed dentists with locations in California, Arizona and Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-01 AXA - Occupational Retirement Schemes Ordinance (ORSO)

China

AXA - Occupational Retirement Schemes Ordinance (ORSO) is a provider of pension products.

Buy -

Seller(S) 2

SELLER

Empresas Penta S.A.

Santiago, Chile

website


Category Company
Founded 1986
SectorDiversified
DESCRIPTION

Empresas Penta S.A. engages in the diversified business. Company offers services in finance, private pension funds, health care, insurance, real estate, education, and development sectors.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Chile) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
SELLER

Inversiones Banpenta Limitada

Santiago, Chile

Category Company
SectorBusiness Services
DESCRIPTION

Inversiones Banpenta Limitada engages in finance, private pension funds, health care, insurance, real estate business.


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Chile) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1