SEOUL, June 3 (Reuters) - South Korea’s SK Innovation Co Ltd has signed a contract to sell its 11.1 percent stake in Peruvian natural gas transporter Transportadora de Gas del Peru (TGP) for $251 million, the company said in a statement on Wednesday.
The owner of South Korea’s top refiner SK Energy Co Ltd said it was selling the stake to raise funds to expand its investment in U.S. shale gas fields.
A 3.94-percent stake is being sold to Spanish utility Enagas , with the remaining 7.25 percent going to Habanera, a Canadian subsidiary of Peru’s Corporacion Financiera de Inversiones, S.A., the statement said.
Enagas said on Tuesday that it had signed a deal to boost its stake in Lima-based TGP to 24.34 percent as it bought the 3.94 percent stake from SK Innovation and 0.4 percent from Corporacion Financiera de Inversiones, becoming the second-biggest shareholder in the largest transporter of natural gas in Peru.
Reporting by Meeyoung Cho; Editing by Joseph Radford