September 7, 2004- Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) reported to the Chilean Superintendency of Securities and Insurance (SVS) today that its Board of Directors had approved the creation of a wholly-owned subsidiary, Río Azul S.A. Initial capital of Río Azul S.A. will be Ch$2 bln (equivalent to approximately US$3.2 mln). Quiñenco, in its communication to the SVS, stated that the creation of Río Azul will facilitate the strategic segmentation of its investments.
Quiñenco S.A., a leading Chilean business conglomerate, is the controlling entity of a portfolio of companies involved in financial services, food and beverage, telecommunications and manufacturing.