Andronico Luksic - Croatian Billioner Dies at 78

Antofagasta billionaire dies at 78
By Melanie Feisst (Filed: 20/08/2005)

The Chilean billionaire Andronico Luksic, who founded the Antofagasta copper mining and rail empire, has died of cancer aged 78. Mr Luksic, whose family emigrated to Chile from Croatia after the First World War, took control of the company, then known as the Antofagasta (Chile) & Bolivia Railway Company, in 1980.

He led it through a resurgence in international demand to enter the FTSE 100 at £11.40 in March 2004. Since then its share price has risen 25pc, adding another 36 yesterday to reach £14.26.

Mr Luksic, who leaves a widow, Iris, and five children, last year was credited by Antofagasta director and friend Philip Adeane with turning the company from a £100m business in 1980 to one worth more than £2.4billion.

The media-shy mogul, who had returned recently to Croatia to invest in a chain of war-affected hotels, was estimated to be worth £1.6billion. He was chairman of Antofagasta group from 1982 until his retirement from the board last November, when he was succeeded by his youngest son Jean-Paul Luksic, the former chief executive.

Mr Luksic senior also had interests in brewing, fishing and telecommunications.

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