Fair Market Value for All?

Fair Market Value for All?

M&A

It took three years, but the Chilean conglomerate Quiñenco has deftly maneuvered its way back to the top of the country's banking sector. Ever since Quiñenco sold a controlling stake in one of Chile's top banks, the company has been reassembling its banking platform through a different venue. Quiñenco sold its 35% position in Banco Santiago in 1999 and quickly began accumulating shares in Banco de Edwards and then in Banco de Chile. Two years later, Quiñenco, which is 82% owned by the Luksic family, had built up a controlling interest in both banks. By this August, Quiñenco announced that it would merge Banco de Edwards and Banco de Chile. And by January the co

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