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Oro Blanco indirect stake sale in Chile's SQM fails, shares plummet
December 15, 2016 / 8:05 PM / 9 months ago

Oro Blanco indirect stake sale in Chile's SQM fails, shares plummet

SANTIAGO, Dec 15 (Reuters) - Chilean holding company Oro Blanco said on Thursday it had decided not to go ahead with the sale of an indirect stake in lithium and fertilizer firm SQM after no suitable offers were received.

The terms and conditions of the offers received “did not contribute to the interests of the company or its shareholders, while one of the conditions would have been impossible to comply with, so the board unanimously decided today to not continue with the process,” Oro Blanco said in a statement.

Shares in SQM fell 7.1 percent after the announcement.

Reporting by Santiago newsroom; Editing by Chizu Nomiyama

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