Puchi blamed for failed merger

The planned merger was terminated early this week. Both companies informed that the parties had unfortunately not been able to reach a joint final agreement and so the the deal was terminated by mutual consent.

However, according to the financial journal Estrategia, sources say that Puchi, who would have headed the merged company, caused the negotiations to break down by insisting on various unrealistic financial conditions.

Among other disagreements, it seems there were serious differences on how to deal with the syndicated loan of AquaChile, a company that has debts of more than $250 million. On top of that, the company reported losses of $11.7 million in Q1 2015, compared to profits of $11.1 million in Q1 2014.

This situation has caused concerns for AquaChile's creditors, who fear late repayments may be the outcome of the failed deal.