Inversiones La Construcción will launch a takeover bid on Banco Internacional: 33 billion USD

The presence of the Chilean Chamber of Construction is growing by leaps and bounds. This is why Inversiones La Construcción signed a share purchase agreement with Baninter SpA, which would enable it to reach a 67% stake in Banco Internacional. The transaction, which also includes Factoring Baninter, is worth close to $ 33,000 million and is expected to materialize in the first half of next year through the Public Takeover Bid (OPA). after obtaining the corresponding regulatory authorizations. Once the transaction is finalized, ILC will own 67% of the capital of Banco Internacional and Factoring Baninter.

"This operation, following the significant progress made in the performance of Banco Internacional, is in addition to the capital plan approved at the beginning of this transaction, and reaffirms ILC's commitment to Banco Internacional, its administration and its future strategy, "said Pablo González, Director General of ILC.

Millions of profits

The amount of profits generated by Inversiones La Construcción is from ILC), the investment arm of the Chilean Chamber of Construction (CChC), at the end of the first nine months of l & # 39; year.

Although the accounts were not as happy and that they were at 12.9% less than what was reported in the same period last year, the figure speaks of the success of the guild in the commercial campaign. According to the entity chaired by Patricio Donoso, the results were affected by a lower performance of the global stock markets, in addition to presenting a decline in Confuturo's profit, given the broader basis of comparison resulting from the sale. of an office building in the Nueva Las Condes area in June 2017.

"In isolating the two effects, the results of ILC were boosted in 2018 by a growth in bank investments, a management badets in the investment portfolio of its insurers, increased demand in the health sector, as well as an increase in the revenues of AFP Habitat and its subsidiary in Peru, "they comment.

In the case of Banco Internacional, the growth of its commercial investments by 39%, together with a significant improvement in its efficiency, led to an increase in ROE, a financial indicator that values ​​the return on capital, of around 300 p untos base. The above supports the $ 60,000 million capital increase plan announced in January 2018, with the goal of continuing to improve its position in the corporate sector, in addition to meeting regulatory solvency levels.

On behalf of the Coalition, they pointed out that Confuturo had pursued with a long-term investment strategy. Two years after the acquisition of the Espacio Urbano shopping centers and one year after the sale of an office building in Nueva Las Condes, the Company has recently finalized the sale of a set of 18 real estate badets generating a profit of 12,772 million of dollars. "Confuturo has demonstrated active management of its portfolio, which has managed to increase its yield, stability and duration, being an important player in this type of investment in the industry."

With regard to the vendor sector, Red Salud has been able to increase its level of activity relative to the industry in Chile. These elements, together with the operational excellence plan, helped to improve the consolidated EBITDA margin and that of each of its clinics. Red Salud has significantly improved its cumulative and quarterly EBITDA margins this year compared to those achieved in 2017.

Finally, they conclude that AFP Habitat has managed to increase its profit before reaching 13%. "The above reflects a better operating performance in Chile, as well as a 45% increase in revenue in Peru, a subsidiary that has begun to consolidate its operational management."