Marinsa and Quiñenco have undersigned leave of the increase of CSAV capital



Two shareholders of reference of the shipowning society Compañía American South de Vapores (CSAV) have total undersigned leave of the increase of capital for 1,2 billion dollars decided in the within of the plan of restructure of the company.

To a week from the fixed term for the exercise of the option right, in fact, Marítima de Inversiones (Marinsa), society that the Chilean Grupo Claro is under responsibility of and that she stops 20.6% of the capital stock of CSAV, and the Quiñenco, society that stops 7.1% of CSAV and that it takes part of the Chilean group Luksic (than in its turn participates to the capital of the CSAV through the quota 5.7% stopped from the branch Inmobiliaria Green Norte and the quota stopped 7.8% from the branch Inversiones Río Bravo), has in fact undersigned sets in action for a value of 347 million dollars. In particular, Marinsa has invested 100 million dollars and Quiñenco 247 million dollars (which quota equivalent to 20.6% of the entire participation in CSAV of the holding ones of the Luksic family).

The procedure of increase of the capital previews that, once conclusosi the period for the exercise of the option rights, will be a turned offer to investor third party after which us it could be a next period for the classified right of option only to those shareholders who have participated to the first pre-emptive option, until that will not be achieved a collection at least 1,1 billion dollars. From part its Luksic group has confirmed own the necessary intention to sign however actions to the completion of the plan until the maximum amount of a billion of dollars.

CSAV has remembered that the figure at least 1,1 billion dollars must be collection which part of the procedure of increase of capital to the aim of scorporare from the shipowning group the agenziali activities, harbour and terminalistiche creating the SM SAAM that will stop 99.99% of the capital stock of the SAAM (South American Agencia Aéreas y Marítimas KNOWS), branch that work such activities. SM SAAM will be quoted to the Stock exchange of Santiago.

In parallel with the restructure plan financial institution CSAV it has got ahead in the course of a 2011 program of reorganization of own operating activities in the field of the line services that preview the institution of partnership with other companies of navigation. Such program has allowed with the Chilean shipowning group to do so as that currently about 80% of own marine shipments graces to agreements with other companies are realized, while at the beginning of the 2011 quota services operated through other carriers was pairs little more of 30%.