August 6, 2019 / 6:34 PM / 3 months ago

Chile's Codelco says sells its 37% stake in natural gas plant for $193.5 mln

SANTIAGO, Aug 6 (Reuters) - Chile’s Codelco, the world’s No. 1 copper producer, said on Tuesday it sold its stake in the GNL Mejillones natural gas plant in the northern part of the country for $193.5 million.

State-controlled Codelco issued a statement saying it would transfer the 37% it held in the natural gas plant, which is controlled by a subsidiary of the French energy company Engie , to the Chile-based Ameris Capital AGF fund.

“The sale of the GNL Mejillones stake will allow Codelco to strengthen its position to finance part of its project portfolio and focus on its main activity, copper mining,” the statement said. (Reporting by Fabian Cambero, writing by Hugh Bronstein; Editing by Dan Grebler)

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