Chile regulator begins invalidation procedure for pension mergers
Chile's pension regulator (SP) has initiated a procedure to invalidate the pension fund manager mergers between AFPs Cuprum and Argentum and between AFPs Provida and Acquisition.
These mergers have been at the center of a political controversy, as they would allow tax savings estimated at US$130mn and US$288mn, respectively, by using an old tax law. Cuprum and Argentum are subsidiaries of Principal Financial Group, while Provida and Acquisition are subsidiaries of MetLife.
SP said in a press release that the invalidation procedure had been requested by Chile's general comptroller on June 28.
The procedure is an administrative process during which the concerned parties can submit information, so the regulatory authority can resolve whether to invalidate the administrative act [the authorization for the mergers], SP said.
Having previously issued favorable opinions of the mergers, SP head Osvaldo Macías Muñoz and chief legal advisor Andrés Culagovski Rubio will comply with the principal of impartiality and exclude themselves from the procedure, according to the release.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Chile)
ENAP formalizes US$400 million contribution to the treasury
The advance contribution of US$400 million worth of profits are associated with the years 2023 and 2024.
Lithium price collapse: end of the boom?
BNamericas talks to Chilean industry analysts about causes and consequences of the drastic decline.
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Peuco Photovoltaic Park
- Current stage:
- Updated:
16 hours ago
- Project: CloudHQ Paulínia data center (GRU technological campus)
- Current stage:
- Updated:
16 hours ago
- Project: Diablillos
- Current stage:
- Updated:
16 hours ago
- Project: Installation of Sixth (VI) Generation Unit (Central Termoeléctrica Barranquilla, Termobarranquilla)
- Current stage:
- Updated:
1 day ago
- Project: Caballos
- Current stage:
- Updated:
1 day ago
- Project: Alameda - Melipilla railway (Melitren)
- Current stage:
- Updated:
15 hours ago
- Project: Mina San Francisco
- Current stage:
- Updated:
15 hours ago
- Project: Encierro
- Current stage:
- Updated:
9 hours ago
- Project: Sol do Canindé photovoltaic power plant
- Current stage:
- Updated:
1 day ago
- Project: Los Llanitos y Jicatuyo hydropower plants
- Current stage:
- Updated:
1 day ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Masivo Silver Corp.
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Tuberfil Indústria e Comércio de Tubos Ltda.  (Tuberfil)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Emgesa S.A. E.S.P.  (Emgesa)
-
Emgesa S.A. E.S.P. is a Colombian company engaged in power generation for the wholesale market and industrial clients from the deregulated market. The company was incorporated i...
- Company: Energy Head
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Servicio de Salud Maule
-
Maule Health Service is the health service agency overseeing Chile's Maule region (VII). Its network includes 84 medical establishments, including 13 general hospitals. It is ov...
- Company: Grenergy Renovables Pacific Ltda.  (Grenergy Chile)
-
Grenergy Renovables Pacific Ltda. (Grenergy Chile) is the Chilean unit of Grenergy Renovables SL, a Spanish company that builds and operates PV and wind power plants. The compan...
- Company: Salgado, Melendez y Asociados Ingenieros Consultores S.A.  (Salgado, Melendez y Asociados Ingenieros Consultores)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Consorcio GA Energy Services, Coopsa Ambiental, Measure Solutions, Nuova Ghizzoni, Sicilsaldo
-
GA Energy Services Consortium, Coopsa Environmental, Measure Solutions, Nuova Ghizzoni, Sicilsaldo is a company made up of Coopsa Ambiental S.A. de C.V., GA Energy Services, S.A...
- Company: Petroserv Marine Inc.  (Petroserv)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Enterprize Energy Pte. Ltd.  (Enterprize Energy)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...