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Article: Sun Life Financial sells Chilean investment
- Article from:
- CCNMatthews Newswire
- Article date:
- August 12, 2005
CopyrightCopyright 2005 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(CCNMatthews - Aug. 12 2005) -
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 ...