Chile's Enel sells stake in gas company for $180 million
12/16/2016
SANTIAGO (Reuters) -- Enel Generacion Chile SA has agreed to sell its 42.5% stake in pipeline operator Electrogas for $180 million, the utility said in a letter to the local securities regulator.
The sale, part of a plan to sell assets, is expected to close in the first quarter of 2017 and to generate a net profit of $123 million. The company did not name a buyer.
Enel Generacion, which owns and operates more than 100 electricity generation facilities in Chile, has partnerships with local generator Colbun SA and state oil company ENAP.
Reporting by Fabian Andres; writing by Luc Cohen; editing by Jason Neely
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