Chilean company buys into CSAV
Chilean industrial and financial conglomerate Quinenco has acquired a 10 percent stake in compatriot liner carrier CSAV, the shipping line said last week.
The stake, estimated at about $120 million, was purchased from Marinsa, CSAV's largest shareholder, reducing its share to about 28 percent, according to reports.
The move follows plans by the line for a $500 million capital-raising effort and the sale of nearly half of South American Air and Maritime Agencies, its multifaceted subsidiary.