Antofagasta

The growing number of Latin American ultra-high net worth families and an increasing international focus as the next generation go abroad for education, mean Latin America’s wealthy are re-balancing risk and returns, locally and offshore.

Although Chilean businessman Andrónico Luksic Abaroa’s life did not quite qualify as a rags-to-riches tale – as a youngster he attended the Sorbonne, albeit briefly – his wealth was self-made.

Family Business Roundup: Antofagasta, Nakumatt, Takata and BMW

Antofagasta appoints Codelco veteran as new mining executive

Chilean firm Antofagasta, controlled by the Luksic family, has appointed a new chief executive to head its mineral unit.

The family-run firm said Ivan Arriagada Herrera, 51, would take up the appointment in Feburary. He currently works at state-owned competitor Codelco. 

KKR purchases a third of renewables firm Acciona, Pentland Group posts significant profits, Brunello Cucinelli protects the future of his family business and Antofagasta signs lucrative mining agreement.

Acciona

Spanish infrastructure giant Acciona has sold a 33% stake in its international renewable energy business, the firm said on Tuesday.

Family-controlled mining company Antofagasta has hired an outsider to lead the business, replacing interim chief executive and family member Jean-Paul Luksic.

Luksic, who stepped up to the chief executive role after the unexpected resignation of non-family Marcelo Awad earlier this year, said the Chilean group has appointed Diego Hernandez.