Tractebel acquires additional stakes in Chilean power generators
Belgian power company Tractebel acquired additional stakes in Chilean power generators Colbun and Electroandina by
buying out a stake held by minority shareholders Yaconi-Santa Cruz in the holding firm that controls these 2 power
producers, the company said. The sale thereby ends speculation that Tractebel would increase its stakes in the
firms.
Tractebel now owns 75 % of Colbun and Electroandina, increasing its shares from a controlling 45.11 % of Colbun and
21.3 % of Electroandina, although it controls most of the voting shares in the latter. Tractebel may now have
Electroandina, Tractebel's investment vehicle in Chile, take control of Colbun. Both power generators would have a
combined installed capacity of 1,700 MW.
Tractebel had said throughout the year it was seeking to control and then merge its electricity and gas units into
one company here, and to buy out the government's stakes in Electroandina and Colbun. Chile's state-owned copper
miner Codelco owns a sizeable, but not controlling, stake in Electroandina, while state-owned holding company Corfo
owns 38 % of Colbun, estimated to be worth $ 187 mm.