CHILE: CCU may face rival bid for Control
A bidding war may erupt for the pisco maker Control, according to local press reports. The Chilean business newspaper Diario Financiero said yesterday (1 March) that the cooperative pisco maker Capel is planning a rival bid to CCU's offer to takeover the company.
The newspaper cited Capel CEO Roberto Salinas.
In late February a spokeswoman for CCU, the Chilean beverage producer, was reported to have said that there had been exploratory talks between CCU and the cooperative that owns Control.
A takeover by CCU would give it a 52% share in the local pisco market.
Pisco is an alcoholic beverage distilled from grapes in southern Peru and northern Chile.
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