La Fiscalía Nacional Económica (FNE) ordered the formal initiation of a technical-legal investigation to evaluate the eventual acquisition of a “decisive influence” – that is, the ability to determine the strategic decisions of the company – in Inversiones Puerto Coronel S.A. by Neltume Ports.
The decision, formalized through Resolution No. 22 signed by the head of the FNE’s Mergers Division, Aníbal Palma Miranda, does not constitute an approval or rejection of the business, but rather the opening of the mandatory analysis process to guarantee free competition in the port market.
The economic concentration operation consists of a transfer of assets where Celulosa Arauco y Constitución S.A. (Grupo Angelini) acts as the selling party and Neltume Ports S.A. as the buyer.
The business involves the total exit of the forestry company from the terminal, through the sale of 50% of its shareholding. With this, Neltume Ports – which already owns 17% of the property – seeks to consolidate 67% of the shares and control of the company, while Empresa Constructora Belfi S.A. will maintain the remaining 33%.
The legal framework governing this investigation is based on Decree Law No. 211 of 1973 and the Regulation on Notification of a Concentration Operation (Supreme Decree No. 41 of 2021). With the documentation in order, the FNE initiated the so-called “Phase 1” of review, activating a legal and non-extendable period of 30 business days.
During this period, the authority will evaluate the dynamics of free competition and will decide whether to approve the purchase in a pure and simple manner, whether to require mitigation measures, or whether to extend the analysis to a “Phase 2” of 90 business days.
Although Neltume Ports does not directly operate other maritime infrastructure concessions in the Bio Bio Region, its corporate parent, Grupo Ultramar, maintains an active position in the area through subsidiaries specialized in mooring, stevedoring, unstevedoring and shipping agency services.
