Santander Chile unit in deal to buy Mundo Credito’s auto loans for $79M

Banco Santander Chile’s announced that its subsidiary Santander Consumer Finance will acquire Mundo Credito in an operation for up to $ 79M. The operation is subject to the approval of the National Economic Prosecutor’s Office, the due diligence process and other usual conditions precedent…The operation would reach between $50,000 million and $70,000 million, being subject to the approval of the National Economic Prosecutor’s Office, the due diligence process and other usual conditions precedent. Cristian Amar, CEO of Santander Consumer, pointed out that “we accompany people in their decisions that allow them to achieve greater well-being and better living conditions. In that sense, for families, purchasing a vehicle is one of the most important purchasing decisions. At Santander Consumer we are very happy with this step, because with this operation we strengthen our offer in this market.” Indeed, thanks to this operation, Santander Consumer consolidates its position as one of the main players in this industry, thus allowing it to reach new customers.