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Deals of the year: Tech and telecoms illustrate the ups and downs of 2000 Author: Felix Salmon Acquirer: AntarChileDeal: acquisition of 30.5% of CopecAmount: $1.233 billion Adviser to AntarChile, loan arranger: JP Morgan It was the timing that was the real difficulty. It was the end of 1999, and Chilean holding company Antar had been in disagreements with US conglomerate International Paper (IP) about their share in Chilean conglomerate Copec for five years. IP had inherited a 30.5% stake in Copec when it bought New Zealand company Carter Holt Harvey in a hostile takeover. |
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