Business Services Industry
Argentina: Soros sells 4,4% in Irsa.
South American Business Information, November, 2000
Quantum Dolphin, the investment fund controlled by George Soros, announced the sale of 4.4% of IRSA to Goldman Sachs, for US$19.7mil. Now Soros only owns 2.78% of the Argentinean company specialised in properties. Four months ago, he owned 14.33% of the company's shares, and sold 2.5% to IRSA's management, and another 4.9% to the property investment fund Peabody controlled by JP Morgan. The minor shareholders with more shares in IRSA are still the Pension Funds Managers (AFJP) who control 15.1%, and IRSA's management with 13.86%. Goldman Sachs was already IRSA's partner in Alto Palermo, owner of the main shopping centres in Argentina. In this case, the company's control is shared between IRSA, Goldman Sachs, an AFJP group and the Chilean company Parque Arauco. Goldman...
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