Chile CorpGroup buys stake of La Polar

Empresas La Polar SA (LAPOLAR) is searching to stave off a second bankruptcy in Twelve years by vending shares worth practically two times the Chilean dealer’s market value after loan losses triggered an Eighty Percent tumble in less than 2 weeks. La Polar shareholders are planned to vote this day on the sale of to the degree that bucks Four Hundred million in new shares that may supply a way for an investor to acquire a manipulating stake. “The new share sale will give La Polar more options to resolve its troubles, though it won’t mean the end of all of them,” said German Guerrero, who assists manage about bucks One billion, incorporating La Polar securities, as chief of MBI Inversiones in Santiago.

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Chile CorpGroup buys stake in La Polar; eyes more