Chile: FNE goes after Vertical Integration violators

Chile’s National Economic Prosecutor (FNE) has asked its legally empowered counterpart, the TDLC, to press charges against several shipping and transport companies operating out of the Antofagasta harbor over their failure to live up to a series of conditions, meant to prevent excessive vertical integration between these “relevant users” of Antofagasta infrastructure. Antofagasta Terminal Internacional, Inversiones Punta de Rieles and SAAM Puertos are among the major companies involved.

The FNE is expected to request a $2.1 million dollar fine on the companies for failure to comply with the decisions of the Central Prevention Commission, which had limited these companies (shippers, loaders and dockworkers) from joining to control over 15% of the region’s tonnage, or over 25% of all tonnage moved while participating with under 40% ownership.

Both SAAM and Punta de Rieles are thought to have far surpassed the upper limits, making these companies ‘Relevant Actors’ and therefore liable to special restrictions. These companies are all somewhat related to the Luksic Group, a holding company for all three enterprises and their subsidiaries. The FNE’s restrictions had initially been set in order to prevent any single actors from dominating the local and vital Antofagasta shipping market.

Full Content: Diario Financiero

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