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Article: Chile: Chile Codelco merges energy assets with GDF Suez.
- Article from:
- TendersInfo
- Article date:
- November 7, 2009
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Byline: manish03
Chilean state copper giant Codelco said on Friday it had reached a deal with GDF Suez (GSZ.PA) to merge electricity generation assets in northern Chile under one company.
World No.1 copper producer Codelco said in a statement that the French utility firm would pay it $172.5 million under the deal. Codelco will control a 40 percent stake in the merged energy firm, with GDF Suez taking a 52.4 percent stake and small investors the 7.6 percent balance.
Under the deal, electricity generating companies jointly owned by Codelco and GDF Suez, will be wrapped into generator Edelnor (EDN.SN), whose shares jumped as much as 6 percent ...