Copec, Gasco find buyer for gas distribution business

Copec, Gasco find buyer for gas distribution business

M&A Gas Latin America South America Andean Chile

Chile's Empresas Copec and Empresas Gasco said they have reached deals to sell their combined 100% stake in Gasmar, a liquefied petroleum gas (LPG) distribution company, for a total of $423 million to an investment vehicle run by Houston-based Arroyo Energy Partners, 18 months after they were ordered to do so by the country's Supreme Court. Gasco agreed to offload its 63.75% stake and Copec its 36.25% share – that it holds through its Abastible unit – to Arroyo's Arco 4, according to separate se

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