March 14, 2012 / 8:43 PM / 6 years ago

Chile Copec ups stake in Colombia Terpel's parent

SANTIAGO, March 14 (Reuters) - Chilean industrial conglomerate Copec said on Wednesday it paid $294 million to increase to 98.24 percent its stake in the parent company of Colombian fuel company Organizacion Terpel, Proenergia Internacional.

Proenergia Internacional is the parent company of Colombia’s Sociedad de Inversiones Energia, or SIE, which in turn is Organizacion Terpel’s parent company.

Copec, whose businesses range from fuel distribution to wood pulp, did not say what its indirect stake in Organizacion Terpel would be.

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