Citigroup has invested at least $1 billion in LQ Inversiones Financieras over the last two months, increasing its stake to 50% from 32.96%.
Citigroup on Monday paid about $520 million for an 8.52% stake in LQ. Banco de Chile is controlled by the Luksic family through LQ.
Citigroup's indirect stake in Banco de Chile is now about 30%, according to Reuters.Follow TheStreet.com on Twitter and become a fan on Facebook.
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