AES subsidiary sells stake in Chile

AES subsidiary sells stake in Chile

Corporate & Sovereign Strategy Asset Management M&A Renewable Electricity Chile Latin America Asia Australia

Chilean power utility company AES Gener, a unit of US-based AES Corp, said it sold a stake in its Empresa Eléctrica Cochrane division to TIF Inversiones for $114 million, the proceeds of which it will use to fund its Greentegra renewable energy program. TIF Inversiones, an investment fund run by Santiago-based Toesca Asset Management, agreed to buy 49.99% of the 60% stake that AES Gener owns in Cochrane, according to a securities filing and press release. AES Gener said it will retain control ov

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