Inversiones Nacionales de Turismo S.A. (BVL:INTURSC1) signed an agreement to acquire 99.97% stake in Inversiones La Rioja S.A. (BVL:LARIOJC1) for an enterprise value of approximately $220 million on September 12, 2017. Shareholders representing 99.97% of La Rioja's share capital have agreed to sell their shares as part of the agreement. The transaction is subject to the completion of certain conditions precedents and is expected to close in the fourth quarter of 2017. Scotiabank acted as financial advisor to Inversiones La Rioja. Inversiones Nacionales de Turismo S.A. (BVL:INTURSC1) completed the acquisition of 99.97% stake in Inversiones La Rioja S.A. (BVL:LARIOJC1) on November 1, 2017. Oscar Trelles, Rafael Picasso, Dora Ramos, Paolo Robilliard, Fernando Sam, Renzo Luna, Claudia Tenorio, María Fernanda Silva, Katherine Ninanya and Alexandra Carranza of Estudio Echecopar acted as legal advisors to Inversiones Nacionales de Turismo while Felipe Boisset, Alberto Rebaza, Fiorella Atoche, Pedro Díaz and Rafael Lulli of Rebaza, Alcázar & De Las Casas acted as legal advisors to Inversiones La Rioja.