15 empresas colombianas con una apuesta de millones en la Chile de Boric

15 empresas colombianas con una apuesta de millones en la Chile de Boric

Gabriel Boric has come to power in Chile between the enormous expectations for the changes he has proposed and the alerts raised among economic groups and big businessmen who have viewed with suspicion a rethinking of the neoliberal model that was the imprint of Chile with its own name. To put an end to fears, Boric put the former president of the Central Bank, Mario Marcel Cullell, at the head of the Ministry of Finance, who presented himself as a guarantor for national and foreign companies.

Companies and businessmen await the new rules of the game that the then candidate outlined in the campaign. Among these companies there is a good number of Colombians that have bet on Chile for many years in the energy, financial, infrastructure, food or transportation sectors. They represent 4.3% of foreign direct investment (FDI) from Latin America in Chile and 1.4% of the total in 2020.

Ignacio Calle, CEO Sura Asset Management, third largest pension fund manager in Chile

A strong issue in the current president’s campaign was pensions. Boric spoke of a great transformation in the pension system, and on his official website he then specified one of his proposals: “The creation of a system without AFPs that allows increasing the pensions of current and future retirees, and that materializes the right to social Security”. Grupo Sura, through its subsidiary Sura Asset Management, is the third largest pension fund manager in Chile, has 19.6% of the market, has 46.9 billion dollars in managed assets from 1.8 million clients , according to the company that is a closed joint-stock company. Ignacio Calle, CEO of Sura Asset Management, told the media this month that there is no change regarding investments in Chile. Grupo Sura, through Suramericana, also has a presence in Chile through the acquisition of RSA, a British company with more than 300 years of history.

Gabriel Melguizo, general manager of Interchile, bets on sustainable environmental projects

ISA has been in Chile since October 2012. Gabriel Melguizo is the general manager of Interchile SA, the company that ISA created when it obtained the exploitation and execution rights of the 755 km energy transmission network of the Cardones-Polpaico line in the north and center of the country. To this was later added the 197 km in Tarapacá and Antofagasta, which have required, as a whole, investments of 1,282 million dollars. In July of last year, it placed a bond in the US for 1,200 million dollars with the requirements of a “green bond”, so that part of the resources obtained will be used to finance or refinance projects with sustainable environmental benefits. It is the largest placement of a project in the electricity sector in Latin America. ISA Intervial is the main operator of highway concessions along 715 km of Route 5 South, with five concessionaires and five routes: Ruta del Loa, Ruta del Maipo, Bruta del Bosque, Ruta de la Araucanía, Ruta de los Ríos .

Carlos Mario Méndez, general manager of Aguas de Antofagasta serving the extreme north of Chile

Grupo EPM is also in Chile. In May 2015, it acquired Aguas Antofagasta for 965 million dollars from the Luksic group, and has a contract for the provision of public services that is in force until December 2033 for the production and distribution of drinking water, and the collection of wastewater in populations of the extreme north. From Chile. In May of last year, it issued bonds for 179.5 million dollars, as confirmed at the time by the general manager, Carlos Mario Méndez.

EPM Chile had, in September 2019, to enter into a purchase agreement with Gener and Norgener for all the shares it had in Parque Eólico Los Cururos -57 Vestas-brand wind turbines- and EPM Transmision Chile for 138 million dollars to cover to the liquidity problems derived from the contingency in the Hidroituango project.

Food has a Colombian presence with Nutresa, which in September 2013 bought the Chilean company Tresmontes Lucchetti for 758 million dollars, the second largest food company in the country, which for more than a hundred years was linked to the family of businessman Pedro Ibáñez Santa María, through the company Córpora SA In Chile Nutresa brings together 6 businesses in the food sector in cold meats, chocolates, cookies, coffee, ice cream and pasta. It has a 59.9% stake in cold drinks, 28.4% in pasta, 16.4% in coffee, and 12.4% in potato chips, according to Bloomberg.

Rappi has been pedaling at full speed in Chile for three years

Three years ago rappi He started pedaling in Chile, as Rappi Chile Servicios. It has achieved exponential growth, has deepened its development of payment services and has been betting on expansion with a travel and tourism business for a year. At the end of 2021, it launched the ultra-fast service cool turbo – which already exists in Colombia – with more than 40 black shops to supply the demand.

Fanalca Chile goes by bus It is the controlling company of the Subus concessionaire of which it has 66.3% and operates Unit 2 of the Santiago Metropolitan Mobility Network. Investments Alsace founded in 2002 by the brothers Carlos Mario and Francisco Javier Ríos Velilla, it operated until 2019 the entire Transantiago network 1, and ended with a lawsuit for 350 million dollars before the Ciad of the World Bank alleging unfair and equitable treatment to their investments by the Chilean state.

Odinsaconcessions company of Grupo Argos, has Chile in its investment plans with Macquarie Infrastructure Partners V (MIP V), a private infrastructure fund managed by Macquarie Asset Management (MAM), with which they signed a strategic alliance for the creation of a investment platform that will manage Odinsa’s current road assets in Colombia and the development of new projects in Chile and Peru that will require some 1,180 million dollars, according to Jorge Mario Velásquez, president of Grupo Argos and the Odinsa board of directors.

Andrés Restrepo, president of Mineros: the Chilean subsidiary acquired 20% of the La Pepa gold project in Atacama

In recent moves, the Colombian gold exploration and exploitation company, Mineros, led by Andrés Restrepo, reported that its subsidiary, Mineros Chile, closed the acquisition of 20% of the La Pepa mining project located in Atacama, in the north of the country, at 4,200 meters above sea level in the Maricunga Gold Belt.

TENPO, Credicorp’s fintech, partnered with Colombia’s TYBA last November with a view to becoming the first 100% digital bank in Chile. Both TYBA and TENPO are part of the KREALO portfolio, the corporate venture capital of the Credicorp group, the largest financial holding company in South America.

The boom of digital services and cloud platforms has motivated mega-companies such as Huawei, Microsoft, Oracle and less large companies such as the Colombian multi-Latin company Internexa of the ISA group to install their data centers in Chile. This has just opened its own data center in the El Golf neighborhood, focused on companies in this financial and commercial sector of Santiago.

Farmalisto, for these months, begins to sell medicines in Chile, after the acquisition of Xinermed and in the coming semester they will launch telemonitoring and telemedicine, according to its founder and CEO, José Joaquín Mora.

In addition, since November Grupo Argos, Bancolombia, Nutresa, Cementos Argos, Grupo Sura and Davivienda have been operating in the Chilean market thanks to the agreement between the Colombian Stock Exchange (BVC) and the Santiago Stock Exchange.

All these companies are awaiting the decisions of President Boric and those made by the assembly in charge of drafting a new constitution, which will be taken into account when deciding “when will I leave for Chile?”

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