Tractebel acquires additional stakes in Chilean power generators

Aug 01, 2000 02:00 AM

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.

Source: Bridge News via Newspage
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