AES Gener sells part of its transmission lines to Chilquinta to pay its debt

The national electricity company AES Gener on Monday informed the contract of sale of its CTNG energy transmission unit to the distributor Chilquinta Energía SA. The operation, notified to the Commission for the financial market by an essential fact, involves the transfer of 316 kilometers of transmission lines in the V region of Valparaíso, the metropolitan region and the second region of Antofagasta.

The sale of 100% of CTNG's shares is US $ 219.9 million, subject to the adjustments and interests defined in the agreement, which will be paid to AES Gener and Angamos in proportion to their respective interests in CTNG . AES Gener said the funds for this operation will be intended to pay the debt. In turn, the company said the transaction will have a positive effect on its results in the order of 130 million US dollars.

Under the terms of the agreement, the improvement of the transaction will be subject, among other conditions, to the compliance of the condition precedent of the approval of the transaction by the national economic floor in accordance with Title IV of DL 211 of 1973.