Analysis & Comment

Spain's Enagas hires Rothschild, C.Suisse to sell Chile plant stakes, Expansion says

FILE PHOTO: The logo of Enagas can be seen on two bags during an event in Madrid, Spain, May 19, 2016. REUTERS/Andrea Comas

MADRID (Reuters) – Spain’s gas grid operator Enagas and its partner OMERS hired investment banks Rothschild & Co and Credit Suisse to sell their stakes in a Chilean gas plant, Expansion newspaper said on Friday.

Enagas is seeking to dispose of its near 45% stake in the plant that converts liqueified natural gas back into gas for the Chilean market in the Quintero port as part of a broader plan to sell assets, the newspaper said, citing unidentified financial sources.

Canadian pension fund OMERS owns nearly 35% of the Quintero plant and also seeks to sell its stake, Expansion said.

The plant would be worth more than 1 billion euros ($1.17 billion), it said.

An Enagas spokesperson declined to comment. Rothschild and Credit Suisse did not return phone calls seeking comment.

($1 = 0.8521 euros)

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