Chile's Luksic Family Agrees To Buy Terpel Local Assets For $320 Million
03 Settembre 2011 - 12:02AM
Dow Jones News
Chile's Luksic family, through its Quinenco SA (QUINENCO.SN)
holding company, has agreed to pay $320 million for Colombian fuel
company Terpel's Chilean assets, which fuel-and-forestry
conglomerate Empresas Copec SA (COPEC.SN) indirectly owns.
The transaction needs to get approval from Chile's TDLC
antitrust court, as Quinenco recently purchased Royal Dutch Shell
PLC's (RDSA, RDSA.LN, RDSB, RDSB.LN) local business.
The TDLC told Copec it had until mid-2012 to be in compliance
with competition regulations and sell Terpel's assets in Chile.
Last year, Copec purchased an indirect controlling stake in Terpel
for $285.5 million, expanding into Colombia, Ecuador and
Panama.
Copec needs to sell Terpel's Chilean assets because of its
already-high participation in Chile's fuel market.
Terpel has 200 gas stations and 97 convenience stores in
Chile.
The Luksics are reportedly Chile's richest family and control
London-listed mining company Antofagasta PLC (ANTO.LN, ANFGY),
brewer Compania Cervecerias Unidas SA (CCU, CCU.SN) and the
country's second-largest bank, Banco de Chile (BCH, CHILE.SN),
among other assets.
-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;
anthony.esposito@dowjones.com
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