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Citi and Quinenco Establish Partnership in Holding Company of Banco de Chile.

Publication: Business Wire
Publication Date: 19-JUL-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Citi Secures Rights to Acquire 50% of the Holding Company That Controls Banco de Chile

NEW YORK & SANTIAGO, Chile -- Citi and Quinenco announced today that they have reached a definitive agreement to establish a strategic partnership that gives Citi the option to acquire up to 50% of LQIF, the holding company through which Quinenco controls Banco de Chile. Through this partnership, Citi operations in Chile will be combined with Banco de Chile's leading local banking franchise to create a premier banking and financial services institution with about 20% market share of the Chilean banking industry.

"This partnership brings together two dynamic financial institutions that share a culture of dedicated client service and best-in-class financial products," said Manuel Medina...

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