Investors Move to Block Chile Tech Takeover

A group of 15 investors is looking to collectively acquire a 10% stake in Chile tech company Quintec, offering CLP168 per share to any willing sellers, in order to keep competitor Sonda from taking over the company. “They believe Quintec would be better off without Sonda,” says Jose Miguel Barros, a parter at Larrain Vial partner, which is advising the group of investors. He tells LatinFinance some of those investors are already Quintec shareholders. Sonda is offering to acquire 100% of the company, its most recent bid upgraded to CLP165 per share this week, valuing the target at $49m. Celfin Capital is advising Sonda. Quintec shares closed at CLP168.00, up 0.7%.