Spanish energy company Enagas SA (ENGGY, ENG.MC) acquired from
BG Group PLC (BRGYY, BG.LN) a 20% stake in GNL Quintero SA, the
operator of a liquefied natural gas terminal in central Chile, for
$176 million, Enagas said Thursday.
Earlier this year, British natural-gas company BG said it would
sell a 40% equity interest in GNL Quintero as part of its noncore
assets' divesting plan.
BG is expected to sell to Enagas the remaining 20% stake for
another $176 million by the end of this year.
BG plans to use the proceeds from the sale to finance part of
its $22 billion capital expenditure plan over the next two
years.
On top of Enagas, GNL Quintero's shareholders are Chile's state
oil company Empresa Nacional del Petroleo SA, or ENAP; power
generator Empresa Nacional de Electricidad SA (EOC, ENDESA.SN);
Chile's largest gas distributor, MetroGas SA (METR.BA), and BG.
Each shareholder currently owns a 20% stake, Enagas said in a
statement.
Write to Graciela Ibanez at graciela.ibanez@dowjones.com
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