ANKARA
By Nihan Cabbaroglu
Spanish Gas Natural Fenosa has made a $3.3 billion offer to take over Chile’s biggest electricity distribution company.
The Spanish multinational energy company stated they launched a tender offer for 100 percent of the share capital for Compania General de Electrcidad, which will be the largest takeover ever made in Chile, according to Fenosa.
The Spanish energy group would strengthen its presence in Latin America with this purchase with the distribution of electricity to over 2.5 million customers - 40 percent of the Chilean market.
Gas Natural Fenosa, has a presence in over 25 countries and has an asset portfolio of 44.95 billion euros, according to company data from 2013 financial year. The company has more than 20 million customers and has an installed capacity of 15.4 gigawatts.
With a fleet of nine LNG carriers, Fenosa is a leading operator of Liquefied Natural Gas in the Atlantic and Mediterranean, where it has a capacity of 30 billion cubic meters.
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