viernes, 20 de junio de 2008

Aguas Andinas launches takeover bid for Essal

Chilean water utility Aguas Andinas, controlled by Spanish group Agbar, has launched its takeover bid for southern water utility Essal, local paper Estrategia reported.

With a price of 162 pesos/share, Aguas Andinas plans to purchase up to 470mn shares in Essal, equivalent to roughly 75.9bn pesos (US$154mn). The shares represent 100% of the company's outstanding stock, the report said.

The offer is scheduled to end July 7.

On May 22, Spanish group Iberdrola agreed to sell 51% of Essal to Aguas Andinas for some 103mn euros (US$162mn).

With the purchase, the company practically reaches the maximum quota of client concentration established for Chilean water utilities by law.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: June 19, 2008

sábado, 14 de junio de 2008

Salmon disease infects three more chilean farms

Chile’s problems with Infectious Salmon Anemia (ISA), a highly contagious fish virus that has plagued the country’s US$2.2 billion farmed salmon industry, appear far from over.Nearly a year after first confirming ISA’s presence in Chilean waters, the government’s National Fishing Service (SERNAPESCA) continues to expand its official list of outbreak sites.

The list now contains 24 fish farms – 22 in Region X and two father south in Region XI. SERNAPESCA added six of those production centers in just the past couple of weeks. The government body, meanwhile, increased Chile’s number of quarantined farms from 35 to 42. In total, Chile – the world’s second leading farmed salmon producer after Norway – boasts 827 salmon farms.

Ten of the infected farms belong to industry leader Marine Harvest, a Norwegian company. Four belong to Mainstream, also Norwegian. Due in large part to the ISA problems, both companies have seen their profits shrink in recent months (PT, May 9, 14).

The industry slowdown has resulted in large-scale layoffs. Just this month Japanese-owned Salmones Antarctica fired approximately 200 workers in Region XI (PT, June 3). The company let another 300 people go earlier in the year. In April Mainstream fired 260 workers in Quemchi, Chiloé (PT, April 18). One week earlier Marine Harvest shut its Puerto Montt-based Chinquihue processing plant, laying off more than 600 people (PT, April 15).

Publication: Santiago Times
Provider: Chip News
Date: June 13, 2008

martes, 10 de junio de 2008

Plaza group to expand mall operations in peru

Plaza Group, the Chilean-owned retail mall operator, hopes to become the largest mall operator in Peru by 2010. Plaza built its first international mall in November 2007, in the northern Peruvian city of Trujillo, and it plans rapid expansion in the neighboring country as part of a US$938 million investment in new malls in Chile and Peru.

Peru is seen as a land of opportunity by the Plaza Group, as there are currently no competing large mall operators in the country. Chilean competitor Parque Arauco had plans to build a US$40 million mall in Arequipa, Peru, but has since announced that it will reformulate the plans in response to the Plaza Group’s new projects.

According to Plaza President Sergio Cardone, the group is also studying potential projects in Argentina and Colombia. Cardone said that Plaza would “most likely” make Colombia its third country of operation, and was evaluating how best to enter the Colombian market.

Plaza Group is controlled by Falabella, a Chilean holding company that has a 59.5 percent stake. Falabella currently operates retail stores in Chile, Peru, Argentina, and Colombia.

Publication: Santiago Times
Provider: Chip News
Date: June 10, 2008

lunes, 9 de junio de 2008

Saieh-rendic group buys another supermarket chain

The Saieh-Rendic group, Chile’s third-largest owner of supermarkets, announced Friday its purchase of the Ribeiro supermarket chain. This purchase represents the thirteenth acquisition made by the group, created in December by a partnership between businessman Alvaro Saieh and the Rendic family, Ribeiro - run by the Gonzalez family- has seven stores in the Santiago Metropolitan Region and a 0.2 percent of the national supermarket share.With this latest purchase, the Saieh-Rendic conglomerate, which also owns Farmacias Ahumada, now has close to 14.7 percent of the market, with around US$1.3 billion in annual sales.

Earlier this year the Saieh-Rendic group purchased the supermarket chains Los Naranjos in Region IV and Korlaet in Region II. The Saieh-Rendic’s presence in both Region V and the Santiago Metropolitan Region is increasing where it already owns the Bryc, Unimarc and Montserrat chains.

Still, the company’s market share is still well below D&S, which owns Líder, and Cencosud, which owns Jumbo. D&S and Cencosud control 33.5 and 31.3 percent of the market, respectively (ST, May 1).


Publication: Santiago Times
Provider: Chip News
Date: June 9, 2008