Thursday, May 19, 2011

Wording For Paying For Food

Group led by Hernan Briones GOINC RECEIVES BID BOC

The American solutions provide industrial gases and chemicals U.S. $ 1,400 million for the local firm

Briones Group receives bids for holding Indura and negotiates sale to Air Products

While connoisseurs of the operation ensures that transaction is closed, other Market sources indicate that we would be talking with various stakeholders and, for now, nothing is finalized.

By M. Cazenave / L.
Fromin
A new week has Indura, the holding of technological solutions for industrial gases and welding Goich led by Hernan Briones. This is because the arrest of the registration of its shares on the Superintendencia de Valores y Seguros (SVS), for further opening the bag, we now have the intention to sell the company.

And, according to connoisseurs of the operation, the controlling group of the local firm and would be in advanced negotiations with the U.S. Air Products and Chemicals, also devoted mainly to gases and chemicals for industrial use (see box ) - to close soon sale, through a contract by one of U.S. $ 1,400 million, a figure that would involve more operating businesses in the country this year. Nearby

Although connoisseurs say that the business operation and have been realized, some market sources suggest that talks are still at an early stage, because since February, when from Indura officially reported claims of market-opening would have received interest in the company of several others in the area, but still there is nothing closed. Today

82.23% of Indura is controlled by the Company for Investment and Development Inves, matrix group led by Hernan Briones, through which the family also runs Cementos Bío Bío and Cisa sanitary parts manufacturer, among other businesses (see box on page 7).

The reasons underlying the interest

However, there are particular reasons that would raise the interest of Air Products in Indura, and one of them is related precisely to the close competition between two firms: the U.S. is considered one of the leading competitors Indura worldwide, along with France's L'Air Liquide, Linde AG of Germany and the U.S. also Praxair.

addition, while it is Indura an aggressive presence at regional level in addition to Chile, is located in Peru, Argentina, Mexico, Colombia, Ecuador, "Air Products has managed to embrace four continents: America (including USA, Canada, Mexico and Brazil), Europe, Africa and Asia-which would open the door to possible synergies and, secondly, allow Indura a potential expansion into large markets where there is now absent, as Brazil, the sources explained.

On the other hand, Indura numbers would also be appealing to the U.S., taking into account that the Chilean bill more than $ 400 million a year, while profits rose to over of $ 30 million. Opening

frustrated late February, a special meeting of shareholders approved Indura 100% register their shares in the Securities Registry of the Superintendency of Securities and Insurance, as part of the opening of the joint stock the medium term.

subsequently transpired that the intention was to open 10% of the property . For this operation had been hired to advice from IM Trust.


Source: DF

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