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An important merger in the Chilean market
As announced in a press release in January, Soquimich Comercial, the Chilean subsidary of SQM dealing with the local market, will merge with Anagra. Anagra shareholders will control 23% of Soquimich Comercial. Anagra`s main shareholders are the Japanese Giant Mitsui Agro Bussines (70,4%), Iansa (23,5%) (a big sugar company) and others. Besides, Mitsui has agreed to buy Iansa´s shares for an amount of US$10.7 millions. SQMC is historically very strong in fertilizer imports and ANAGRA very strong in serving customers. The new company will control 45% of fertilizers imports and 30% of fertilizer distribution and marketing.
Before it is implemented, the agreement will need the green light of the Chilean Anti-trust and Free Trade Court.
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