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Slide #32. Principal Financial Group, Inc. — AFP Cuprum S.A.
Principal Financial Group, Inc. (NASDAQ:PFG)
AFP Cuprum S.A.
Principal Financial Group, Inc. (NYSE:PFG), a global investment management leader, today announced that the AFP Cuprum S.A. (Cuprum) acquisition is complete. On Oct. 8, 2012, The Principal announced a definitive agreement to acquire Cuprum, which required Empresas Penta S.A. and Inversiones Banpenta Limitada to sell their 63 percent ownership in Cuprum pursuant to a public tender offer that also included the remaining 37 percent of publicly traded shares, which has been completed giving The Principal a 90.4 percent ownership stake in Cuprum. The Principal intends to acquire the remaining shares after completion for a total purchase price of USD$1.5 billion less assumed debt.
Principal Financial Group is an insurance holding company. Co. provides businesses, individuals and institutional clients a range of financial products and services through its financial services companies. Co.'s segments include: Retirement and Income Solutions, which provides products and services for retirement savings along with select products for retirement income; Principal Global Investors, which manages assets for investors by providing equity, fixed income, real estate and other alternative investments; and Principal International, which provides pension accumulation products and services, mutual funds, asset management, income annuities and life insurance accumulation products.
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Hold (2.11 out of 4)