Reuters first with news Brazil's IG4 bidding to become a top shareholder in Chilean miner SQM; market reacts | Reuters News Agency
Business & FinanceDeals

Reuters first with news Brazil’s IG4 bidding to become a top shareholder in Chilean miner SQM; market reacts

Reuters broke the news that Brazilian private equity firm IG4 Capital was bidding to buy key stakes in holding companies that control Chilean lithium miner Sociedad Quimica y Minera de Chile, known as SQM. If longtime SQM stakeholder Julio Ponce agrees to the approach, IG4 will become one of the largest shareholders in SQM, the world’s No. 2 lithium producer, alongside Ponce.

Market Impact

Shares in the three holding companies for which IG4 plans to launch tender offers as part of the bid surged after the story was published, with Norte Grande SA jumping 8.3%, Sociedad de Inversiones Oro Blanco soaring 10.1% and Sociedad de Inversiones Pampa Calichera up 8.7%.



Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Commodities & EnergyEquities
Regions: Emerging MarketsSouth America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
An aerial view shows the brine pools and processing areas of the Soquimich (SQM) lithium mine on the Atacama salt flat, the world's second largest salt flat and the largest lithium deposit currently in production, with over a quarter of the world's known reserves, in the Atacama desert of northern Chile, January 10, 2013. SQM fertilizer company has fired its chief executive after it became embroiled in an election campaign financing scandal that has rocked the Chilean establishment, tainting business leaders and politicians with close links to the 1973-1990 dictatorship of Augusto Pinochet. Picture taken January 10, 2013. REUTERS/Ivan Alvarado (CHILE - Tags: SOCIETY BUSINESS ENVIRONMENT POLITICS)
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