Chile’s Luksic family group plans to buy Royal Dutch Shell’s assets in Argentina, which include service stations and the country’s second-largest oil refinery, financial daily Ambito Financiero reported on Monday.
Argentine Planning Minister Julio De Vido learned about the the deal — brokered through the family’s holding group Quinenco (QNN.SN: Quote) — last Friday, Ambito said, without citing sources.
De Vido was due to meet on Monday morning with Chile’s energy and public works ministers.
No one was immediately available at Shell’s office in Buenos Aires to comment on the report.
Shell (RDSa.L: Quote) has been at odds with President Cristina Fernandez’s government over the center-left administration’s price caps on fuel despite soaring inflation estimated privately at about 25 percent per year.
With the purchase, Luksic would control assets including Shell’s 700 service stations in Argentina and a 113,000 barrel-per-day refinery in Buenos Aires province, Ambito said. For more see [ID:nN1296899]
The Luksic family has an indirect stake in Banco de Chile (CHI.SN: Quote), the country’s No. 2 bank. It is also involved in copper manufacturing through Madeco (MAD.SN: Quote) and in mining via Antofagasta Minerals (ANTO.L: Quote). (Reporting by Karina Grazina; Writing by Luis Andres Henao;editing by Sofina Mirza-Reid)
Source: Reuters