China’s State Grid buys Sempra’s T&D assets in Chile for $2.2b
SAN DIEGO, CHILE - Sempra Energy has entered into an agreement to sell its equity interests in its Chilean businesses, including its 100% stake in the Chilean third-largest distributor of electricity Chilquinta EnergÃa, to China's State Grid subsidiary State Grid International Development Limited (SGID).
Sempra Energy's interests will be sold for $2.23 billion in cash, reports BN Americas.
The sale to SGID is expected to be completed in the first quarter of 2020, subject to customary closing conditions.
Today's announcement follows Sempra Energy's agreement to sell its equity interests in its Peruvian business, including its 83.6% stake in Luz del Sur S.A.A., to China Yangtze Power International (Hongkong) Co., Limited.
That sale is also expected to be completed in the first quarter of 2020.
Source: BN Americas
