Pinera Puts Clinic Stake on Block

Bancard Inversiones, an investment vehicle controlled by Chile’s president elect Sebastian Pinera, will auction the 9.7% stake, or 792,338 shares, it holds in Clinica Las Condes on February 16, for a minimum price of CLP24,000, confirms a source with knowledge of the deal. LarrainVial will handle the auction. The shares closed at CLP25,000 on the day of the announcement, bringing the total value of the stake to $36m. Pinera is also seeking to divest his 26% stake in LAN Airlines before he becomes president on March 11.