Invexans S.A. agreed to spin-off Madeco S.A to the shareholders of Madeco S.A. on January 7, 2013. As per the terms of the transaction, shareholders of Invexans S.A. will receive one share of Madeco S.A. for every one share of Invexans S.A held by them as at the record date. Felipe Joannon will serve as the Chairman, Francisco Pérez will serve as Vice Chairman and Claudius Inglesi will serve as General Manager of Invexans S.A. The transaction has been approved by the Board of Madeco S.A and is subject to approval from the shareholders of Madeco on March 28, 2013.

The transaction was approved by the shareholders of Madeco on March 27, 2013.