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Article: BANCO SANTANDER CHILE AND BANCO OSORNO AGREE TO MERGE TO CREATE LARGEST PRIVATE CHILEAN FINANCIAL INSTITUTION

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PR Newswire
Article date:
April 11, 1996
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SANTIAGO, Chile, April 11 /PRNewswire/ -- Banco Santander Chile and Banco Osorno (NYSE: BOU), two of Chile's leading financial institutions, today announced an agreement to merge to create Chile's largest financial institution with total assets of $7.9 billion. The new bank will operate under the name Banco Santander Chile and will be headquartered in Santiago, Chile. Consummation of the transaction is subject to regulatory approval and the approval of shareholders of both Banco Santander Chile ("Santander Chile") and Banco Osorno. Inversiones Santander Chile Ltda., which owns 98.3% of Santander Chile, and certain beneficial owners of Banco Osorno controlling 65% of ...

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