Quinenco takes bigger CSAV stake
Chilean conglomerate Quinenco has purchased more shares in compatriot shipping line CSAV, according to a note this week from the carrier.
The company has bought an additional 8 percent stake in CSAV, after initially buying a 10 percent stake for around $120 million in March. Both stakes were purchased from CSAV's largest shareholder, Marinsa, which will see its stake in the line drop to about 20 percent.
Quinenco has also recommended CSAV raise $1 billion, rather than a planned $500 million, to bolster its coffers.