Merge and acquisitions in Chile may accelerate next quarter after a sluggish January, according to M&A specialist Alex Nilsen at Hudson Bankers. Research firm Transactional Track Record reported 13 announced and closed deals in Chile for the month, down 61%, while total reported deal value also dropped 61%, to $473mn. Last year Chile saw 242 transactions with total reported deal value registering at approximately $13.9bn, up 39.4%, according to TTR.
Export earnings from the current Chilean campaign fruit could fall by $100mn as a result of the coronavirus outbreak in China, according to exporter association Asoex. Port congestion, low demand and a shortage of store and delivery workers are taking toll on demand. Of the estimated 1,500 containers of cherries that remain in the market, just 249 were sold during the first 48 hours since wholesale markets reopened this week, said Asoex president Ronald Bown.
The board of Chile's Central Bank decided to keep the interest rate at 1.75% and was concerned about the possible impact of lower consumption and fiscal expansion on the country's economy. In the minutes of the meeting, board members also suggest closely following a possible weakening of the economy due to the coronavirus outbreak in China which has caused commodity prices, including copper.
"The Chacao Bridge is going to be built and will allow to extend our country by more than 200 kilometres, joining the continent with the wonderful island of Chiloé," said the Chile president Sebastián Piñera during a visit to Puerto Montt. He acknowledged that there were discrepancies between the government and Hyundai, the firm that leads the consortium in charge of construction, but said the issue was resolved.