Report
Seth Goldstein, CFA
EUR 101.80 For Business Accounts Only

SQM's Corporate Governance Change Improves Odds of Favorable Arbitration Outcome

SQM released a proposed change to the structure of its board of directors that would remove former Chairman Julio Ponce’s control of the company. For the change to take place, SQM and Corfo must successfully renegotiate the lease to the Salar de Atacama. We think this proposal increases the likelihood that SQM and Corfo resolve their arbitration, allowing SQM to secure a new long-term lease to the Atacama asset, accounting for roughly 50% of 2016 revenue. With no changes to our base-case assumpt...
Underlying
Sociedad Quimica y Minera de Chile S.A. Series B ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Goldstein, CFA

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