Grupo Security
Date: Jun 2025
Client: Grupo Security
Counterparty: Bicecorp
Industry: Financial Institutions
Amount: USD 3,200 million
Transaction:
Landmark Alantra acted as independent financial advisor to Grupo Security’s board on the fairness opinion and exchange ratio for the merger of the company with Bicecorp. The mandate involved the valuation of both financial groups and their subsidiaries to estimate a fair market value exchange ratio.
About Grupo Security
Grupo Security is a Chilean financial group offering banking (Banco Security), insurance (Vida Security), asset management, invoice lending and other financial services. As of 2024, Grupo Security has more than USD 8.1 bn in gross loans through Banco Security (3.2% market share) and USD 3.6 bn in technical reserves through Vida Security (5.9% market share).
About Bicecorp
Bicecorp is a Chile-based financial services group controlled by the Matte family. Through its subsidiaries, the company is active in commercial banking (Banco Bice), life insurance (Bice Vida), real estate, securities brokerage and automobile loans, among others. As of 2024, Banco Bice has USD 9.4 bn in gross loans (3.7% market share) and through Bice Vida, more than USD in 7.0 bn in technical reserves (10.2% market share).
Jun 2025
Financial advisor to
Fairness opinion for the merger of Grupo Security with
USD 3,200 million
