December 17, 2016 / 1:10 PM / 2 years ago

Chile's Enel sells stake in gas company for $180 million

SANTIAGO, Dec 17 (Reuters) - Enel Generacion Chile SA has agreed to sell its 42.5 percent stake in pipeline operator Electrogas for $180 million, the utility said in a letter to the local securities regulator.

The sale, part of a plan to sell assets, is expected to close in the first quarter of 2017 and to generate a net profit of $123 million. The company did not name a buyer.

Enel Generacion, which owns and operates more than 100 electricity generation facilities in Chile, has partnerships with local generator Colbun SA and state oil company ENAP. (Reporting by Fabian Andres; writing by Luc Cohen; editing by Jason Neely)

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