PSEG to Shop Chile Distributor

PSEG to Shop Chile Distributor

Chile

Public Service Enterprise Group (PSEG) plans to sell its stake in Chile's SAESA electricity distribution group. The New Jersey-based energy holding company has hired Credit Suisse as an advisor. It plans to use proceeds for the repurchase of $200m in 10% of 2009 notes. SAESA includes the Frontel, Edelaysen, STS, Luz Osorno and PSEG Generacion companies and reaches 26% percent of the country's population. "The SAESA group of companies has grown rapidly and we are pleased with the dramatic improve

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