Yaconi-Santa Cruz forms strategic alliance with Repsol-YPF

Jul 21, 2000 02:00 AM

The Yaconi-Santa Cruz group formed a strategic alliance with Repsol-YPF in order to grow the LPG business in Chile, Peru and Bolivia. Due to the partnership, Yaconi-Santa Cruz sold a 45 % stake in Lipigas to Repsol-YPF. The Lipigas group, created recently, will control in Chile gas distributors Codigas, Lipigas, Enagas and Agrogas. Market sources say that other assets may be also sold off, like Colbun's and Electroandina's.
Yaconi-Santa Cruz has recently sold its 50 % stake in GasValpo to AGL. Yaconi-Santa Cruz posted gross profit of $ 34 mm last year on sales of $ 219 mm

Source: Bridge News via Newspage
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