Enersis to sell Endesa stake

Enersis to sell Endesa stake

Chilean distribution group Enersis has announced that it is to sell its 25 per cent stake in Endesa Chile, the country`s largest generation company. The sale of the shares has been valued at $700-800m.

Enersis has said that it has decided to withdraw from generation to concentrate on the distribution market. US energy group CMS is considered to be a front-runner in the sale. CMS already has interests in Chile through the GasAtacama project with Endesa of Spain, which owns a 32 per cent stake in Enersis.

Enersis also owns stakes in generating and distribution companies in Argentina, Peru, Colombia and Brazil.

à‚-Colombia is to hive off the electricity generating assets of state-owned utility Corelca into a new company in February this year. The privatization is to take place in two phases and is expected to raise revenue of between $50m and $100m. The new entity will be called Gendelca. The government will also net a share of the long term power purchase agreements that Corelca has with other generators.

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