Enjoy Raises $42 Million in First Chile IPO This Year

By Nathan Gill      July 8 (Bloomberg) — Enjoy SA, a Chilean casino operator, raised 23.1 billion pesos ($42 million) in the Santiago stock exchange’s first initial public offering this year.      Enjoy sold 462 million shares for 50 pesos each, the Santiago-based company said in a statement today. The stock fell 1 percent to… Read More Enjoy Raises $42 Million in First Chile IPO This Year

Enjoy to Sell Shares for 50 Pesos Each in Chile IPO

By Nathan Gill      July 8 (Bloomberg) — Enjoy SA, a Chilean casino operator, said it will sell shares for 50 pesos each in the Santiago stock exchange’s first initial public offering this year.      The company will announce the full amount raised at a ceremony at the exchange today, according to a statement posted… Read More Enjoy to Sell Shares for 50 Pesos Each in Chile IPO

Chile’s Soquimich Falls Most in Two Weeks on Demand Outlook

By Nathan Gill      July 6 (Bloomberg) — Sociedad Quimica y Minera de Chile SA, Chile’s biggest fertilizer producer, dropped the most in two weeks on concern that a slump in grain prices may limit demand for the company’s products.      The Santiago-based company known as Soquimich fell 1.3 percent to 19,674 pesos in Santiago… Read More Chile’s Soquimich Falls Most in Two Weeks on Demand Outlook

Latin America Ministers Urge More Money for Lenders

By Sebastian Boyd and Nathan Gill      July 3 (Bloomberg) — Finance ministers from North and South America meeting in Chile agreed to push for more financing for multilateral lenders such as the World Bank and the Inter-American Development Bank, Chile’s Andres Velasco said.      The IDB’s board may agree to vote for a capital… Read More Latin America Ministers Urge More Money for Lenders

Carstens Sees No Reason for Mexico Credit Rating Cut

By Nathan Gill and Jens Erik Gould      July 3 (Bloomberg) — Mexican Finance Minister Agustin Carstens said the country doesn’t have debt problems and there’s no reason for rating companies to cut its credit rating.      “We have a strong economy. We don’t have any external payment problems,” Carstens told reporters today at a… Read More Carstens Sees No Reason for Mexico Credit Rating Cut

Chile’s La Polar Falls as Jobless Data Signals Consumer Slump

By Nathan Gill      July 2 (Bloomberg) — Empresas La Polar SA, a Chilean department store operator, fell to the lowest in a month on concern higher-than-expected unemployment in the U.S. and Chile may crimp consumer spending at the company’s stores. La Polar slid 2.6 percent to 1,910 pesos in Santiago trading, the lowest since… Read More Chile’s La Polar Falls as Jobless Data Signals Consumer Slump

Chile’s La Polar Falls Most in 7 Months After Merger Rejected

By Nathan Gill      June 30 (Bloomberg) — Empresas La Polar SA, Chile’s fourth-largest department store chain, sank the most in seven months after saying it rejected a merger offer from supermarket chain Omega SA.      La Polar fell 6.4 percent to 1,960 pesos in Santiago trading, its steepest drop since Nov. 20. The stock… Read More Chile’s La Polar Falls Most in 7 Months After Merger Rejected

Moody’s Coutino Says Honduras Coup May Jeopardize Trade With U.S.

By Nathan Gill      June 28 (Bloomberg) — Alfredo Coutino, director for Latin America at Moody’s Economy.com in West Chester, Pennsylvania, comments on the economic impact of a military coup in Honduras. Coutino spoke today in a telephone interview. On the coup’s impact on Honduras’s trade:      “Its going to be a negative mark for… Read More Moody’s Coutino Says Honduras Coup May Jeopardize Trade With U.S.

Chile Construction May Be Near Bottom, Chamber Says

By James Attwood and Nathan Gill      June 17 (Bloomberg) — Chile’s construction industry may bottom out next quarter as unemployment in the industry peaks at 21 percent, about double the national rate, according to the country’s Chamber of Construction.      “In October we were falling without a parachute, and now we’re falling slowly,” Chairman… Read More Chile Construction May Be Near Bottom, Chamber Says

Chile’s Parque Arauco Rises to 1-Year High on Profit Outlook

By Nathan Gill      June 9 (Bloomberg) — Parque Arauco SA, a Chilean shopping-center developer and operator, climbed to its highest in a year in Santiago trading on speculation that its expansion plans will boost earnings growth.      Parque Arauco rose 3.2 percent to 514 pesos, the highest closing price since May 28, 2008. The… Read More Chile’s Parque Arauco Rises to 1-Year High on Profit Outlook

Chile’s Copec Rises to One-Year High on Profit, Commodities

By Nathan Gill and James Attwood      June 1 (Bloomberg) — Empresas Copec SA, Chile’s biggest forestry company, rose to the highest in almost a year as first-quarter profit matched some analysts’ estimates and raw-material prices advanced.      Copec climbed 1.4 percent to 7,190 pesos in Santiago trading, the highest since June 13. The… Read More Chile’s Copec Rises to One-Year High on Profit, Commodities

Chile’s La Polar Falls on Speculation Omega Undervalues Stock

By Nathan Gill      May 29 (Bloomberg) — La Polar SA, Chile’s best-performing retailer this year, fell in Santiago trading on speculation Omega SA’s merger offer undervalues the company’s department stores.      The Santiago-based retailer slipped 0.9 percent to 1,927.9 pesos. The shares surged 15 percent yesterday for the biggest gain in seven months.     … Read More Chile’s La Polar Falls on Speculation Omega Undervalues Stock

Chile Department Store Ripley Rises to 11-Month High on Merger Speculation

By Nathan Gill      May 29 (Bloomberg) — Ripley Corp SA rose to the highest in more than 11 months on speculation the Chilean retailer will integrate its department-store chain with Grupo Saieh’s supermarkets after Saieh bought a 20 percent stake in the company this month.      Ripley climbed 5.8 percent to 418 pesos in… Read More Chile Department Store Ripley Rises to 11-Month High on Merger Speculation

BM&FBovespa Proceeding With Chile Trading Plans, Oliveira Says

By Nathan Gill      May 14 (Bloomberg) — Paulo de Sousa Oliveira Jr., chief business development officer of BM&FBovespa SA, Latin America’s largest exchange, comments on plans to integrate with Chile’s stock exchanges. Oliveira spoke in Spanish to reporters in Santiago today. On plans to integrate with Chile’s exchanges:      “The idea we… Read More BM&FBovespa Proceeding With Chile Trading Plans, Oliveira Says

Chile’s Lan Seeks Airline Partner, Traffic Expansion

By Nathan Gill and James Attwood May 7 (Bloomberg) — Lan Airlines SA, Chile’s biggest air carrier, is interested in forming an alliance with a partner “north of Ecuador,” Chief Executive Officer Enrique Cueto said. Lan hasn’t reached any agreements and is looking for new markets to expand its cargo and passenger business, Cueto told… Read More Chile’s Lan Seeks Airline Partner, Traffic Expansion

Falabella Plans to Invest $2 Billion Through 2012

By Nathan Gill and James Attwood May 7 (Bloomberg) — SACI Falabella SA, Chile’s biggest retailer by market value, plans to invest $2 billion through 2012 to expand in Latin America, Chief Executive Officer Juan Benavides said. Falabella is seeking opportunities in Colombia while its “very big” investment plans for Peru will depend on how… Read More Falabella Plans to Invest $2 Billion Through 2012

Chile Lending May Rise 2%, Bank Association Says

By Nathan Gill and James Attwood May 5 (Bloomberg) — Bank lending in Chile may increase by 2 percent this year after the economy probably “touched bottom” in the first quarter, said Hernan Somerville, president of the country’s banking association. Chile’s economy may recover in the coming months, ending the year little changed from last… Read More Chile Lending May Rise 2%, Bank Association Says

Chile’s Endesa Plans to Invest $1 Billion in 2009

By Nathan Gill April 30 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest power generator, said it plans to invest about $1 billion this year to expand capacity. The Santiago-based company known as Endesa will invest in wind farms, a natural gas plant and a coal steam plant, adding 680 megawatts of capacity, Chief… Read More Chile’s Endesa Plans to Invest $1 Billion in 2009

Endesa Chile First-Quarter Profit More Than Doubles

By Nathan Gill and James Attwood April 29 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest power generator, said first-quarter profit more than doubled as revenue rose in Chile. Net income rose to 166 billion pesos ($283 million) from 68.4 billion pesos a year earlier, the Santiago-based company said today in an e-mailed statement.… Read More Endesa Chile First-Quarter Profit More Than Doubles

Lan Airlines Profit Falls 35% on Fuel-Hedging Loss

By Nathan Gill April 28 (Bloomberg) — Lan Airlines SA, Chile’s biggest carrier, reported a 35 percent drop in first quarter profit after losing $57.9 million from wrong way bets on fuel prices. Net income slipped to $65 million from $99.6 million a year earlier, the carrier said in an e-mailed statement today. The airline reported… Read More Lan Airlines Profit Falls 35% on Fuel-Hedging Loss

Chile’s Pinera Transfers Assets, Seeks Advice on Lan Airlines

By Nathan Gill and James AttwoodApril 27 (Bloomberg) — Sebastian Pinera, the presidential candidate for the Alliance for Chile coalition, said he’s taking advice on how to sell his stake in Lan Airlines SA and placed shares of other companies he owns in a blind trust. Pinera, who lost the last presidential election in 2005… Read More Chile’s Pinera Transfers Assets, Seeks Advice on Lan Airlines

Chile’s Pharmacy Fasa to Reimburse Customers for Inflating Drug Prices

By Nathan Gill and James Attwood April 16 (Bloomberg) — Farmacias Ahumada SA, Chile’s second-biggest drugstore chain known as Fasa, will reimburse customers hit by inflated medicine prices. Fasa plans to return 2.5 billion pesos ($4.3 million) through refunds or credit for new purchases, Alejandro Rosemblatt, the company’s chief executive, told reporters in Santiago today.… Read More Chile’s Pharmacy Fasa to Reimburse Customers for Inflating Drug Prices

Chile’s Vapores Rises Most in Six Years on Financing Talks

By Nathan Gill and James Attwood April 14 (Bloomberg) — Cia. Sudamericana de Vapores SA, Latin America’s largest container ship company, rose the most in six years in Santiago after saying it’s in talks to raise $750 million to turn around unprofitable shipping operations.  The Valparaiso, Chile-based company plans to sell about $350 million in… Read More Chile’s Vapores Rises Most in Six Years on Financing Talks

Chile’s Pinera to Transfer Stock Holdings This Month

By Nathan Gill and James AttwoodApril 8 (Bloomberg) — Sebastian Pinera, the presidential candidate for the Alliance for Chile coalition, said he plans to begin handing over control of his stock holdings before this year’s elections. “In April I’m going to transfer voluntarily the administration of all investments in public companies to Chilean financial institutions,”… Read More Chile’s Pinera to Transfer Stock Holdings This Month

Chile’s Andres Velasco Urges Banks to Open Up Access to Credit

By Nathan Gill      Jan. 23 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the availability of credit. Velasco spoke to reporters today after a meeting with members of the Association of Banks and Financial Institutions. On banks:      “Everyone should use every available tool to alleviate the effects of the international crisis on… Read More Chile’s Andres Velasco Urges Banks to Open Up Access to Credit

Chile’s Bond Sale Creates Reference Point for Risk, Tagle Says

By Nathan Gill      Jan. 22 (Bloomberg) — Guillermo Tagle, vice president of Chile’s Capital Markets Consultative Council and executive director of Santiago-based IM Trust Corredores de Bolsa, comments on the country’s Jan. 8 decision to sell $1 billion of local currency bonds. Tagle spoke to reporters today in Santiago after a meeting with the… Read More Chile’s Bond Sale Creates Reference Point for Risk, Tagle Says

Chile’s Cencosud Seeks Return to 2007 Debt Levels (Update1)

By Nathan Gill and James Attwood      Jan. 20 (Bloomberg) — Cencosud SA, Chile’s biggest retailer, plans to return to the debt levels it maintained before making a series of acquisitions starting in 2007.      The Santiago-based operator of department stores, supermarkets and home-improvement outlets plans to issue 21-year bonds worth 3 million UF, Chile’s… Read More Chile’s Cencosud Seeks Return to 2007 Debt Levels (Update1)

Santander Chile Falls on Lending Slowdown Concern (Update1)

By Nathan Gill and James Attwood      Jan. 14 (Bloomberg) — Banco Santander Chile, the country’s biggest lender, fell the most in a month in Santiago trading on concern that a deepening global economic slowdown is stifling lending.      Santander Chile fell 3 percent to 22.1 pesos, the steepest drop since Dec. 15. Banco de… Read More Santander Chile Falls on Lending Slowdown Concern (Update1)

Chile Equity Movers: Enersis, Colbun, Ripley, SACI Falabella

By James Attwood and Nathan Gill      Jan. 13 (Bloomberg) — The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and share prices are as of 3:48 p.m. in New York.      The Ipsa index rose 0.1 percent to 2,470.06.      Enersis SA (ENERSIS CC), the Latin American unit… Read More Chile Equity Movers: Enersis, Colbun, Ripley, SACI Falabella

D&S Rises Most in 2 Months on Acquisition Speculation (Update2)

By James Attwood and Nathan Gill      Dec. 18 (Bloomberg) — Distribucion y Servicio D&S, Chile’s biggest grocer, rose the most in two months in Santiago trading on renewed speculation it will be acquired by another retailer.      “This stock is always with rumors that someone would buy it,” Alvaro Pipino, head of research at… Read More D&S Rises Most in 2 Months on Acquisition Speculation (Update2)

Chile Electricity Generator Endesa Sells $340 Million in Debt

By Nathan Gill      Dec. 18 (Bloomberg) — Empresa Nacional de Electricidad SA, Chile’s biggest electricity generator, sold about $340 million in bonds, the company said.      The company known as Endesa sold debt for 10 million unidades de fomento, Chile’s inflation-adjusted accounting unit, in 21-year notes, the company said in an e-mailed statement.     … Read More Chile Electricity Generator Endesa Sells $340 Million in Debt

Velasco Expects Little Fallout From Ecuador Default in Chile

By Nathan Gill      Dec. 18 (Bloomberg) — Chile’s Finance Minister Andres Velasco comments on the potential economic consequences in Chile of Ecuador’s decision to default on $3.9 billion of international debt. Velasco spoke today in an interview in Santiago. On the affects of Ecuador’s decision to default on Chile’s economy:      “None. What Chile… Read More Velasco Expects Little Fallout From Ecuador Default in Chile