Principal Financial Group to Acquire Cuprum, the Premier Chilean AFP Pension Company
Principal Financial Group, Inc. (NYSE: PFG), a global investment management leader, announced today that it has signed a definitive agreement to acquire AFP Cuprum S.A. (Cuprum). The agreement requires Empresas Penta S.A. and Inversiones Banpenta Limitada to sell their 63 percent ownership in Cuprum pursuant to a public tender offer that will also include the remaining 37 percent of publicly traded shares. This action, combined with its current business in Brazil, Chile and Mexico, will give The Principal^® an even larger presence in faster growing emerging markets.
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