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Luksic family

Expanded horizons: How Latin American families are balancing risks and returns

July 7, 2016

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: Benetton, Antofagasta and Teck Resources, Gehl Foods

April 2, 2015

Benetton family sells stake in World Duty Free; Family-backed Antofagasta and Teck Resources in merger talks; and Gehl Foods sold to Chicago-based firm

Benetton family sells stake in World Duty Free

Edizone, the family office behind Italy’s Benneton family, said on Monday that it has sold its 50.1% stake in World Duty Free to Swiss competitor Dufry.

According to a company statement, the deal values the group at €3.6 billion ($3.8 billion) and will make the combined group the world's largest travel retailer.

Dufry reportedly paid €10.25 per share.

Family Business Roundup: PZ Cussons, Antofagasta and Swatch

July 31, 2014

PZ Cussons cleaning up despite £12m currency drop; Antofagasta share price drops despite higher output; Swatch shares increase following iWatch rumours

PZ Cussons cleaning up despite £12m currency drop; Antofagasta share price drops despite higher output; Swatch shares increase following iWatch rumours

PZ Cussons cleaning up despite £12m currency drop

British soap and shampoo manufacturer PZ Cussons posted a profit of £115 million (€144 million) for the year ending May 2014 – a rise of 7% on 2013.

Family business roundup: Antofagasta, Empire and Wacker see growth

March 14, 2012

Be it in North America, South America or Europe, a number of family businesses have cemented their positions this week by reporting positive results for fiscal 2011.

Chilean mining company Antofagasta, controlled by the Luksic family, said on 13 March that preliminary sales for full-year 2011 rose to $6.07 billion (€4.64 billion), up from $4.57 billion the year before.

Family businesses reap benefits of revival

March 9, 2011

Evidence of family businesses reaping the rewards of a revival in economic activity was indicated by two large payouts to family business owners this week.

Top on the list was Chile’s Luksic family, which will receive more than $700 million due to growth on the back of record prices of copper of its mining company Antofagasta. Bill Ford, fourth-generation chairman of Ford Motor, also has lucked out being paid a hefty dividend of $42 million for being instrumental in the company’s revival.

Latin America: On the up: family business in Latin America

November 1, 2007

Carlos Slim, the world’s richest man, is the figurehead of a Latin American trend of family
businesses ascending to powerful global positions. And many believe that, despite concerns about corruption, this trend will continue if the environment for business improves at the current rate. Melanie Stern analyses the state of play for the region’s business families

Melanie Stern is a freelance journalist based in the UK.

Carlos Slim, the world's richest man, is the figurehead of a Latin American trend of family businesses ascending to powerful global positions. And many believe that, despite concerns about corruption, this trend will continue if the environment for business improves at the current rate. Melanie Stern analyses the state of play for the region's business families

ARGENTINA
Population: 39.0 million
GDP (at market exchange rates): $214.3 billion