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Southern Cross exits 50% stake in Chile’s Gas Atacama

1 Apr 2014

electricity_170sqPrivate equity firm Southern Cross has exited its 50 per cent stake in Gas Atacama to electric utility group Endesa Chile for $309m.

Endesa now owns all of gas-fired power project, which has a capacity of 781 megawatt.

The company operates a 1,200km-gas pipeline which connects north-western Argentina with the Atacama Plant.

The company operates a 1,200km-gas pipeline which connects north-western Argentina with the Atacama Plant. It also transports gas from the regasification terminal in Mejillones to the Taltal Power Plant owned by Endesa, which supplies electricity to the Chilean Sistema Interconectado Central.

Recent private equity deals in Chile include Actis’ acquisition of a 60 per cent stake in renewable energy development Aela Energía for $290m.

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