Gas Natural Fenosa closes the sale of its share in the Quintero LNG Plant, Chile, to Enagás for 175 million euros
- The multinational energy company obtained authorisation to sell its share, which it holds through various subsidiaries of CGE Gas Natural S.A, a company forming part of GAS NATURAL FENOSA in Chile.
- The transaction enables GAS NATURAL FENOSA to obtain net capital gains tax amounting to approximately 50 million euros.
GAS NATURAL FENOSA closed the sale of its 20% share in the Quintero LNG Plant, Chile, to Enagás Chile, after having received the necessary authorisations. The company Aprovisionadora Global de Energía, S.A. (AGESA), a company split from Metrogas, S.A. (in which GAS NATURAL FENOSA maintains a controlling share of 60.2% through its subsidiaries CGE Gas Natural S.A. And Gas Natural Chile S.A.), closed the deal for 200 million dollars, which following the dividend adjustments on the closing date stands at 197 million dollars (approximately 175 million euros).
This agreement, announced on 30 June, enables GAS NATURAL FENOSA to obtain net capital gains tax amounting to approximately 50 million euros under its current shareholding in AGESA.
GAS NATURAL FENOSA is approaching this operation as part of its capital streamlining strategy by freeing up resources as part of the proactive management of its asset portfolio that will enable maximum value to be obtained for its shareholders.
About GNL Quintero
In operation since 2009, GNL Quintero was the first LNG terminal in the southern hemisphere and has been operating at full capacity since 1 January 2011. Its assets include a dock, three storage tanks, three vaporisers and a tanker loading station. GNL Quintero, the company that owns these assets, has signed a long-term contract for use of the terminal and its expansions with GNL Chile, owned by ENAP, Enel and GAS NATURAL FENOSA.
Scope and subject: America, LNG