STXNEWS LATAM-Chile's energy firm CGE up after offer approach

lunes 6 de octubre de 2014 11:23 GYT

Shares in Chilean electricity distributor Compania General de Electricidad SA rose 4.7 percent on Monday after majority shareholders received an offer approach.

CGE said in a statement to the Chilean regulator that the shareholders had received a non-binding approach that could leave to a full offer, and had agreed to due diligence.

The company, which has a market capitalization of around $2 billion, did not identify who had made the approach and said no price had yet been determined.

CGE owns a controlling stake in gas transporter Gasco SA , whose shares also rose, up 2.8 percent by 1213 local time (1513 GMT).

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