Ann: Change in substantial holding, page-2

FROM https://www.latercera.com/pulso/noticia/los-socios-chilenos-de-cargill/LYAAI4UYSRAIFJ34VGLRQOC3UE/

They have known each other for over 40 years. They shared the halls of the San Ignacio, followed similar careers and two are even brothers-in-law. Being young, Alberto del Pedregal, Martín Borda, José Ramón Gutiérrez and Carlos Pucci entered the exporting world. First, selling to the world everything that came into their hands. Then with the salmon. They set up Multiexport in the 1980s. And today, they share ownership with the Japanese Mitsui, to which they have now added an American giant: Cargill.

Today Borda, from Pedregal, together with José Ramón Gutiérrez and Carlos Pucci Labatut, are the controllers of Multiexport Foods: the main exporter of smoked products in the country, and the second largest exporter of Atlantic salmon. The four partners have the majority percentage of Multiexport Dos S.A. and Multiexport S.A., companies that in turn have more than 59.65% of Multiexport Foods. In addition, the four -to which the succession of Hugo Pino Morán is added- have an additional 8.57% via personal investment companies.

And it was on them that the North American giant Cargill set its eyes. In 2015, the Minnesota-based company had entered the country, after acquiring one of the world's leading fish feed companies, Ewos. and now - after much searching - makes its first global investment in salmon production. On March 18, it announced its intention to acquire 24.5% of the shares of the subsidiary Salmones Multiexport (Multi X), an operation for some US$300 million that will transform Cargill into a partner of Borda, del Pedregal, Gutiérrez and Pucci, which in turn already share the property with the Japanese Mitsui, which after the transaction will increase its participation to the same 24.5% of the North Americans.

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Borda has told those close to him that it was this relationship with cars that led him to approach the world of lithium. It was in that environment where he soaked up the trends that spoke of electric vehicles. And in 2014, through its Empal Investments company, it created Minera Salar Blanco to exploit the more than 2,500 hectares it owns in the Maricunga salt flat. Today, in that company he is a partner of the Canadian Bearing Lithium and Lithium Power International (LPI). And they already have an exploitation permit to develop a project of about US$ 560 million. That is where a large part of its energy resides today.

During the coming months, if the free competition organizations of Chile, Brazil and the United States give the green light to the operation, the founders of Multiexport will maintain control of Multi X, and will form a shareholders' agreement with two giants: Cargill and Mitsui.