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Article: PPL selling Latin American companies: Three power distribution companies in Chile, Bolivia and El Salvador bring in 5 percent of company's revenue.
- Article from:
- The Morning Call (Allentown, PA)
- Article date:
- March 7, 2007
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Byline: Sam Kennedy
Mar. 7--PPL Corp. is putting three Latin American subsidiaries on the auction block. The decision was announced Tuesday, a decade after the Allentown company launched a major overseas expansion. "Given that we have no intention of significantly growing our investment in Latin America, and that valuations are high for solidly performing electricity businesses in that part of the world, it is a good time to pursue this option," PPL Chief Executive James Miller said in a statement. The three electricity delivery businesses are located in Chile, El Salvador and Bolivia. Together, they have 1.1 million customers and brought in roughly $43 ...