Chilean Empresas Masvida sells 55 percent stake to Southern Cross Group

Chilean company Empresas Masvida (EM) announced on 21 October 2016, its Board of Directors agreed to accept a Southern Cross Group (SCG) proposal of US$90 million for 55 percent ownership (Emol). The EM Board came to the unanimous decision to accept the proposal after carefully analyzing a number of other potential offers (Emol). Empresas Masvida issued a statement claiming the alliance with SCG would have a positive impact toward improving Chilean healthcare. Further details of the transaction will be presented at an extraordinary shareholder’s meeting scheduled to be held in November 2016 (Economía y Negocios).