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Article: Sun Life Financial sells Chilean investment.
- Article from:
- Business Wire
- Article date:
- August 12, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO -- Note to Editors: All figures are in Canadian dollars.
Sun Life Financial Inc. (TSX:SLF)(NYSE:SLF) announced today that it had reached agreement in principle to sell its 31.72% investment in Administradora de Fondos de Pensiones Cuprum S.A. to Empresas Penta S.A. for approximately $120 million in cash. The sale is expected to be completed in August.
"This sale reflects our continued focus on building a sustainable presence in markets in which we choose to compete, and exiting those markets where we do not have a meaningful presence," said Donald A. Stewart, Chief Executive Officer, Sun Life Financial. "Our ownership position in Cuprum was not a ...