Liberty International Chile S.A. and LMG Chile SpA made an offer to acquire Compania De Seguros Generales Penta Security S.A from Grupo Security S.A. (SNSE:SECURITY) and Empresas Penta S.A. for approximately CLP110 billion on July 12, 2015. The buyers will acquire approximately 11.2 million shares of Compania De Seguros Generales Penta Security at a price of CLP 9,564.215 per share. LMG Chile SpA will acquire 60% stake in the transaction while Liberty International Chile S.A. will acquire the remaining 40% stake. The offer will run from December 11, 2015 to January 9, 2016. The closing of the transaction is subject to approval by Chilean regulators. As of January 8, 2016, the offer has been extended until January 11, 2016 and publication of the results will be on January 14, 2016 instead of January 12, 2016. Roberto Paiva of N M Rothschild & Sons Limited acted as financial advisor to Liberty International. LarrainVial S.A. Corredor de Bolsa acted as administrator to the offer. Carey & Allende Abogados acted as legal advisor to Liberty Mutual International. Baker & McKenzie Ltda. acted as legal advisor to Grupo Security and Alcaíno Abogados | Estudio de Abogados acted as legal advisor to Empresas Penta. Gazmuri y Cía acted as legal advisor to Grupo Security and Empresas Penta.

Liberty International Chile S.A. and LMG Chile SpA completed the acquisition of 99.6% stake in Compania De Seguros Generales Penta Security S.A from Grupo Security S.A. (SNSE:SECURITY) and Empresas Penta S.A on January 14, 2016. Liberty International Chile acquired approximately 4.46 million shares in Compania De Seguros Generales Penta Security, representing 39.86% stake while LMG Chile acquired approximately 6.69 million shares representing 59.78% stake.