Natural Gas is going to do with the Chilean company General Eslectricidad Company. The Spanish have already reached an agreement with the Latin American group to acquire all the business of the firm through an initial public offering (IPO) in a deal valued at 3,300 million dollars (more than 2,600 million euros) operation.
In a letter to the Chilean regulator CGE reported measures agreed with Natural Gas. These are that the Spanish remains, for the moment, with 54.19% of the shares of Chile, belonging to majority shareholders: Family Groups Marin, Almería Group and Family Group Pérez Cruz. In addition, Gas Natural has agreed to launch a tender offer to acquire all of the titles of CGE, in the same conditions as drivers Chilean firm.
As for the purchase price to be offered in OPA is 6.2 euros per share, according to CGE, paid in cash money in the time and manner required by the contract.
CGE is the parent company of a group companies that concentrate their business in the electricity and gas sector in Chile, in five major provinces in Argentina and in the activity of LPG distribution in Colombia.
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