September 9, 2017 / 1:41 PM / 2 years ago

U.S.-based UnitedHealth proposes buying Chile's Banmedica

SANTIAGO (Reuters) - Chilean healthcare company Banmedica SA told local regulators late on Friday that it had signed a non-binding agreement to sell all its shares to U.S.-based UnitedHealth Group Inc.

“If the transaction materializes, the price to be offered in the takeover bid for each share of the company would be 2,150 pesos ($3.47),” Banmedica said in a statement to regulators.

Shares of Banmedica rose 3.73 percent on Friday to 1,920 pesos.

Banmedica operates health insurance, clinics and other services in the sector.

The statement did not mention the estimated total value of the proposed deal.

Reporting by Fabian Cambero; Writing by Hugh Bronstein; Editing by Lisa Von Ahn

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