June 8, 2001 – Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) announced that it had initiated legal action against its joint venture partner in Inversiones y Rentas, the investment company which holds over 61% of the property of CCU. This action is in response to the entrance of Heineken into the property of IRSA, announced in February of this year. The case will be presented in arbitrage proceedings and its objective will be to protect the interests of Quiñenco, which are affected by the presence of Heineken in CCU’s ownership structure, whether it be direct or indirect. Heineken is CCU’s main competitor in both Chile and Argentina, CCU’s principal markets.