Gas Natural confirms $3.3 bln cash offer for Chile's CGE

domingo 12 de octubre de 2014 08:47 GYT

MADRID Oct 12 (Reuters) - Spain's Gas Natural on Sunday confirmed it would launch a takeover offer for Chilean electricity distributor Compania General de Electricidad at 4,700 pesos (around $7.9) per share, in an all-cash takeover bid.

Its offer comes after it reached an agreement to buy out shareholders controlling 54.19 percent of CGE's capital at that price.

Gas Natural said the deal valued the whole of CGE at about 2.6 billion euros ($3.28 billion), and it expected the offer to conclude in the second half of November.

($1 = 593.5800 Chilean peso)

($1 = 0.7920 euro) (Reporting by Sarah White, Editing by)