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4-Traders Homepage  >  Equities  >  SANTIAGO STOCK EXCHANGE  >  Empresas Copec SA    COP   CLP7847L1080

EMPRESAS COPEC SA (COP)
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Chile Supreme Court Approves Copec's Terpel Sale to Quinenco

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01/02/2013 | 10:45pm CEST

Chile's Supreme Court on Wednesday said it approved holding company Quinenco SA's (QUINENCO.SN) acquisition of the local assets of Colombian fuel company Terpel. Terpel is indirectly controlled by fuel and forestry conglomerate Empresas Copec SA (COPEC.SN).

The Supreme Court revoked an April ruling by Chile's TDLC antitrust court, which rejected the deal due to concerns that both Copec and Quinenco had a high rate of participation in the Chilean fuel market.

Quinenco agreed in September 2011 to buy Terpel Chile's assets for $320 million from Copec, which needed to sell certain assets to be in compliance with Chilean competition regulations.

Quinenco's purchase of Royal Dutch Shell PLC's (RDSA, RDSA.LN, RDSB, RDSB.LN) local business, however, didn't make it a suitable buyer, according to the TDLC.

In a unanimous decision, the Supreme Court's five members revoked the TDLC ruling but set some mitigation measures, such as requiring the sale of some Quinenco's or Terpel's gas stations, to encourage competition.

Write to Graciela Ibanez at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article
ChangeLast1st jan.
EMPRESAS COPEC SA --End-of-day quote.
QUINENCO S.A. --End-of-day quote.
ROYAL DUTCH SHELL -0.14% 28.765 Delayed Quote.3.53%
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Financials ($)
Sales 2018 22 611 M
EBIT 2018 1 420 M
Net income 2018 962 M
Debt 2018 5 357 M
Yield 2018 1,78%
P/E ratio 2018 23,15
P/E ratio 2019 23,67
EV / Sales 2018 1,20x
EV / Sales 2019 1,13x
Capitalization 21 707 M
Chart EMPRESAS COPEC SA
Duration : Period :
Empresas Copec SA Technical Analysis Chart | COP | CLP7847L1080 | 4-Traders
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 15,9 $
Spread / Average Target -4,6%
EPS Revisions
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