U.S. power company Sempra Energy is near an agreement to sell its Chilean busine...
) is near an agreement to sell its Chilean business to State Grid Corporation of China for close to $3 billion, the latest deal in its bid to shed non-core assets, people familiar with the matter said on Friday.
Sempra’s deal with State Grid Corporation of China could be announced as early as next week, the sources said, cautioning it was still possible that negotiations may falter at the last minute and asking not to be identified because the matter is confidential. Chile, among Latin America’s most open economies and the world’s top copper exporter, has sought to remain neutral amid the growing trade tensions between China and the United States, promoting instead the need for open markets.
Sempra’s Chilean businesses include Chilquinta Energía SA, the third-largest distributor of electricity in the country, and Tecnored SA, which provides construction services to Chilquinta.
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