Quiñenco SA, the holding company of Chile's wealthiest family, is selling more shares in French cable manufacturer Nexans SA to raise capital for new strategic investments. This marks another step in the Luksic family's ongoing divestment from the European industrial firm.

Quiñenco SA has been gradually reducing its position in Nexans as part of a broader strategy to reallocate capital. The Chilean conglomerate, which controls various businesses from banking to beverages, is using the proceeds to fund expansion and diversification initiatives. The timing suggests the Luksic family sees better opportunities in other sectors or markets.

The sale reflects Quiñenco's active portfolio management approach, balancing its holdings across different industries and regions. By monetizing part of its Nexans stake, the company gains financial flexibility for potential acquisitions or organic growth projects. This move aligns with the Luksic clan's history of strategic investments and business empire building.