Spain’s Naturgy has sold its Chilean subsidiary, CGE to China’s State Grid for USD 3 billion. The sale of the electricity grids business was initiated back in November 2020. With more than 3 million customers, CGE was the biggest utility in Chile. Following are the other three main utilities in Chile:
• Enel Distribución, with 1,972,218 customers, and sales of 17,106 GWh in 2019.
• SAESA, with 893,315 customers, and sales of 3,669 GWh in 2019.
• Chilquinta, with 742,247 customers, and sales of 2,889 GWh in 2019.
Subsequently, with this acquisition, State Grid now owns and operates assets in seven countries across the world. The complete list of countries in which it operates (as of Q1 2021) is given below:
• Australia
• Brazil
• Chile
• Greece
• Italy
• Philippines
• Portugal Link to the news: https://www.reuters.com/article/us-naturgy-m-a-chile-idUSKBN2BN3H2