annual report grupo security - Banco Security

annual report 2007grupo securitypage 93The detail of the reconciliation of fair values of assets and liabilities acquired in the purchase of Security Rentas Seguros de Vida S.A. isthe following:ThCh$Equity at book value 58,789,778Adjustment at fair value -Fair value (VP) 58,789,778These values are part of the equity of Seguros Vida Security Previsión S.A..At December 31, 2006, the absorbed Company’s original assets and liabilities that originated positive goodwill were realized and theresults were recognized, therefore at that date, the absorbed Company’s remained assets liabilities are valued at book value.e . During October 2006, Grupo Security S.A. recorded its investment at fair value, according to the detail shown above. Followingthis, Grupo Security S.A. contributed this company in payment of the increase in capital made in its Inversiones Seguros Security Limitadasubsidiary for its book value at that date, assigning all the shares it owned in that investment.The above amounts are expressed at their historical values.f . In January 2007 Grupo Security S.A. in conjunction with Grupo Ultramar made a business combination through indirect and directsubsidiaries, Travel Security S.A. and Sociedad Turismo Tajamar S.A. respectively, which are companies related to the corporate purposeof travel agency. In accordance with Technical Bulletin No.72 such operation included calculating the fair value of such companies. Thisdetermined the new value of assets and liabilities of the combined company.The detail of the reconciliation at fair values of combined assets and liabilities described in the above transaction is thefollowing:ThCh$Equity at book value 5,416,645Adjustment at fair value -Fair value (VP) 5,416,645These values are part of the consolidated financial statements of Inversiones Seguros Security Ltda.