For more than $ 3 billion Naturgy, a Spanish company, agreed to sell its stake in the electricity company General Electricity Company (CGE) to Chinese society State Grid International Development Limited.

It should be remembered that CGE corresponds to the main energy distribution company in Chile, which is in charge of household and industrial electricity.

In High BridgeFor example, there have been a large number of interruptions in the electricity supply from CGE, company that monopolizes the largest number of clients in the municipalityThis is why this new news gives hope for changes.

What does this transaction mean?

The above means the 96.04% of the participation of the Spanish company and, according to the energy company National Securities Market Commission (CNMV), supposes a Company value (market price adding debts and discounting liquid assets) of 4,312 million for him 100% CGE (5,098 million dollars).

From Naturgy they hope to complete the transaction before February of next year. With the transaction, a decrease of more than 4 billion dollars in net debt, reaching the 12,770 million dollars. This will provide a greater financial capacity to be able to address growth opportunities related to the energy transition.