|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Chile

Britain’s ED&F Man Makes Tender Offers for Chile’s IANSA and Campos Chilenos

SANTIAGO – Britain’s ED&F Man Holdings Limited said on Monday it was launching tender offers for all the shares it did not already own of Chile’s Empresas Iansa and Inversiones Campos Chilenos.

ED&F Man, founded in 1783, currently has a 60.96 percent stake in Campos Chilenos, which, in turn, owns 42.74 percent of Iansa.

“The offers will represent a premium of 70 percent over the respective closing share prices of Iansa and Campos on June 19, 2015,” the British company said in a statement sent to the Santiago Stock Exchange.

The offer of 25.84 pesos ($0.04) per share values Iansa at 102.94 billion pesos ($163.4 million), and ED&F Man will have to pay 58.94 billion pesos (about $93.56 million) for the shares of the agribusiness company it does not already own.

ED&F Man’s offer of 33.03 pesos ($0.0524) per share for Campos Chilenos values that company at 30.87 billion pesos ($49 million), with 12.05 billion pesos ($19.13 million) to be paid for the shares of the investment company it does not already own.

Iansa produces and sells sugar and beet sub-products, among other businesses, while Campos’s main asset is its stake in Iansa.

The Santiago Stock Exchange halted trading in shares of Empresas Iansa S.A. and Sociedad de Inversiones Campos Chilenos S.A. for several hours after the tender offer was made.

“The Iansa offer and the Campos offer will be launched simultaneously by a wholly owned subsidiary of ED&F Man as soon as possible, but in any event no later than July 22, 2015, and will target all shareholders of both Iansa and Campos,” the British company said.

BTG Pactual is acting as financial adviser to ED&F Man on the tender offers and will manage the transactions.

Privately owned ED&F Man, which operates in 60 countries and employs around 4,000 people, trades agricultural commodities such as coffee, sugar and fish oil.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2019 © All rights reserved