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The Aguas Andinas company reached an agreement with the Canadian group Algonquin, for the sale of the 100% of your participation at the Essal health company.
Thus they reported through a statement, where they indicated that this Friday the agreement reached for the sale of the direct and indirect participation that it owns in Essal was sent to the Financial Market Commission (CMF), which is equivalent to 53.5%.
The company Algonquin Power & Utilities Corp (APUC) is of Canadian origin and is mainly engaged in the renewable energy and regulated utilities, such as water, natural gas or electricity.
To carry out the operation, APUC will launch a Public Offer for the Acquisition of Shares (OPA) of US $ 0.18001375412 per Essal share.
For its part, Aguas Andinas will launch to the OPA the sale of its direct stake in Essal (2.51%), while the indirect, through Inversiones Iberaguas Limitada (51%), will be sold all of your rights to APUC.
The total value of the sale, that is, the 53.5% that Aguas Andinas has of Essal, is US $ 92.3 million.
Marta Colet, manager of Aguas Andinas, highlighted the operation, emphasizing that it reinforces its “ability to face the investments that climate change requires of us, which will also result in job creation and economic activity at the moment when the country needs it the most ”.
Arun Banskota, CEO of APUC, added that the purchase of Essal reinforces the company’s strategic growth plan, expanding the presence in Chile.
This announcement is made just one month after Essal received a fine of $ 1,640,878,080, the maximum allowed by law, due to the pollution episode that in 2019 left a large part of Osorno no drinking water for about 10 days, product of a chemical spill.
This sanction was for six of the nine charges that Essal was accused of, among them, for having incurred in unscheduled water cuts; for having endangered the health of the population; and for having provided erroneous information regarding the problems that the company had during this entire period of time.
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