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| Iberdrola to sell its stake in four Guatemalan utilities Iberdrola, Spain's largest power company, has reached an agreement with Empresas Públicas de Medellín (EPM) to sell the Colombian company all its indirect shareholdings in four Guatemalan utilities for $326.45 million (€232.9 million). The deal includes 49% of Distribuidora Eléctrica Centroamericana Dos (II), S.A. (DECAII) – the largest shareholder of Empresa Eléctrica de Guatemala (EEGSA) with an 80.88% stake -, 100% of Gestión de Empresas Eléctricas, S.A. (Gesa), 51% of Generadores Hidroeléctricos, S.A. (Genhidro) and 3.12% of Hidronorte, S.A. In the first phase the companies have completed the sale of DECAII and Gesa, coinciding with the signing of the deal, with Iberdrola receiving $307.95 million (€219.7 million) with immediate effect. The $18.5 million (€13.2 million) sale of the indirect interests in Genhidro and Hidronorte is expected to be completed by the end of the year. write your comments about the article :: © 2010 Construction News :: home page |