Simplify Tax Aware Alternatives ETF
LQ
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ROIC.AI
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- Business
- Quinenco S.A. (ADR: LQ) is a diversified Chilean business conglomerate that manages investments in leading companies across financial services, beverages, manufacturing, energy, transport, and port services sectors. The company holds significant stakes in Banco de Chile (51.2%, providing loans and deposits in alliance with Citigroup); CCU (65.9%, producing beer, non-alcoholic beverages, spirits, cider, wine, and water in Chile, Argentina, Uruguay, Paraguay, and Bolivia, in alliance with Heineken); Nexans (14.2%, manufacturing cables worldwide); Enex (100%, retailing fuels, lubricants, and operating Shell-licensed service stations and convenience stores in Chile, Paraguay, and the United States); CSAV (66.5%, offering containerized freight transport and holding 30% in global liner Hapag-Lloyd); and SM SAAM (62.6%, providing tug boats, towage, port terminals, and logistics services across the Americas). These subsidiaries and affiliates employ over 76,500 people, generated aggregate sales of US$41.3 billion in 2024, and operate primarily in Chile with international presence in Europe, Latin America, North America, and globally. Founded in 1957 as Forestal Quiñenco S.A. and renamed Quiñenco S.A. in 1996, the company is headquartered in Las Condes, Santiago, Chile, and is controlled by the Luksic Group with 83% ownership while its shares trade on Chilean stock exchanges. Quinenco targets diverse customer segments including individuals, large corporations, transport, mining, and power generation sectors through its banking, beverage, energy, and logistics offerings. In recent developments, Quinenco's subsidiaries Invexans Limited and Tech Pack S.A. completed the sale of 5% of Nexans shares in November 2024 for US$234 million, reducing the stake to 14.2% while retaining core shareholder status and boosting consolidated results. Invexans executed capital increases in Enex plc totaling US$105 million in March and June 2024 to fund U.S. expansion, where Enex now operates 50 travel centers, and an additional US$50 million in June 2024 to strengthen its capital structure. IRSA Inversiones y Rentas, the joint venture between Quinenco, Heineken, and CCU's controlling shareholder, successfully completed a tender offer in 2024 acquiring 4.31% of CCU shares for approximately US$150 million, restoring ownership to 65.87%. In Paraguay, Banco Sudameris acquired the Cartes Group's stakes in CCU and Enex affiliates in 2024 per U.S. OFAC guidelines, ensuring operational continuity via new shareholder agreements. Additionally, Quiñenco reported strong Q1 2025 net income of Ch$205,802 million, driven by contributions from Banco de Chile, CCU, Enex, and CSAV.