Statkraft subsidiary, Statkraft Chile Inversiones Electricas Ltda, has announced the acquisition of a 98.18% stake in Chilean hydropower firm Empresa Electrica Pilmaiquen SA.

The Norwegian firm paid $246m for the share. The acquisition includes 49,088,839 shares at a price of CLP 3,089.19 each.
In February, Statkraft announced a deal for 70.47% of Pilmaiquen, which entailed a mandatory offer to all shareholders.

Statkraft holds stakes in two hydroelectric plants totaling over 300 MW in Chile, while Pilmaiquen owns a run-of-river plant of some 50 MW and other similar projects.