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Chile’s Calichera Raised to ‘Buy’ at Larrain Vial on Spinoff

Aug. 3 (Bloomberg) -- Soc. de Inversiones Pampa Calichera SA, a Chilean holding company, had its recommendation increased to “buy” from “hold” at Santiago-based brokerage Larrain Vial SA, which cited plans to split Calichera into two companies.

Pampa Calichera, whose main asset is a 30 percent stake in fertilizer producer Soc. Quimica & Minera de Chile SA, had its price estimate increased to 1,040 pesos, Larrain Vial analyst Miguel Moreno wrote in a note to clients.

Pampa Calichera shareholders will meet Aug. 17 to vote on separating its assets into two companies, one which will retain the name and another to be called Potasios de Chile SA. Potasios will have fewer restrictions to its investments and its dividend policy, Moreno wrote.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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