Chile‘s Canal 13 Might Go on Sale before Next Year

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by @todotvnews the 11/08/2017
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The Chilean network, which is currently owned by Grupo Luksic (67%) and the Catholic University (33%), might switch hands before the year is over. According to local media, there are several international parties interested in a possible acquisition. 

Much like Chilevision switched hands to Turner last year and Mega sold 27.5% of its shares to Discovery, it is now Canal 13s turn to open its doors for a possible acquisition from an international company.

According to local Chilean media Pulso.cl, it is possible that the network -currently owned by Grupo Luksic (67%) and the Catholic University (33%) - might switch hands before the year is over.

According to a buyback clause established in the purchase of shares by Grupo Luksic back in 2010, the Catholic University has a month (from mid-November to mid-December) to acquire up to an additional 17% from Andrónico Luksic, which means both parties will come to possess equal parts of Canal 13.

If the 2010 purchase figures were to be maintained, the company would currently be valued at US$ 82 million. Let's remember Luksic paid US$ 55 million for 67% of Canal 13, which would put the 33% of the company at US$ 27 million and the 17% would be valued at US$ 17 million.

But, even though sources close to the Catholic University claim that the option to repurchase 17% from Luksic is still an option, the scenario seems unlikely.

The site claims that the university contacted Citibank several months ago to evaluate the sale of its stake in the network.
The options include the possibility of alienating its 33% or even the complete sale of Canal 13.

According to undisclosed sources, there are already several players who might have expressed interest in the purchase, and there might be a well-defined list of potential buyers between the end of August and the beginning of September.

According to the media, these potential buyers are said to be "big international operators" or "investment funds that are interested in expanding their presence in the region."

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