Spain's Gas Natural buys 96.5 pct of Chile's CGE after bid

viernes 14 de noviembre de 2014 03:57 GYT

MADRID Nov 14 (Reuters) - Spanish gas and electricity firm Gas Natural said on Friday it had acquired 96.5 percent of Chile's biggest electricity distributor Compania General de Electricidad (CGE) SN>.

Gas Natural in mid-October said it would launch an all-cash bid for the company at 4,700 pesos (7.8927 US dollar) per share, after CGE's controlling shareholders agreed to sell their stakes.

The Spanish company said in a statement to the stock market regulator on Friday its acquisition of 96.5 percent of CGE was worth 2.55 billion euros (3.17 billion US dollar). (1 US dollar = 0.8033 euro) (1 US dollar = 595.4900 Chilean peso) (Reporting by Sarah White, Editing by Sonya Dowsett)