July 24, 2019 / 5:24 AM / 5 months ago

BRIEF-REN Signs Contract For Acquisition Of Transemel In Chile For $167 Mln

July 24 (Reuters) - REN Redes Energeticas Nacionais SGPS SA :

* SAID ON TUESDAY SIGNED CONTRACT WITH COMPANIA GENERAL DE ELECTRICIDAD S.A. AND NATURGY INVERSIONES INTERNACIONALES, S.A FOR ACQUISITION OF 100% OF EMPRESA DE TRANSMISION ELECTRICA TRANSEMEL S.A. (“TRANSEMEL”) IN CHILE, FOR $167 MILLION

* CONCLUSION OF TRANSACTION AND RESPECTIVE ACQUISITION OF TRANSEMEL BY REN GROUP WILL TAKE PLACE IN BEGINNING OF OCTOBER 2019

* ACQUISITION WILL BE FINANCED SOLELY WITH DEBT

* SEES ESTIMATED CONTRIBUTION OF ACQUISITION OF TRANSEMEL TO REN’S EBITDA OF $13.8 MILLION BY 2023, FOLLOWING CAPEX EXECUTION

* SEES ACQUISITION OF TRANSEMEL TO HAVE POSITIVE IMPACT IN REN’S CONSOLIDATED RESULTS FROM 2020 ONWARDS

Source text for Eikon: bit.ly/2YeKsuu bit.ly/2YhvEzn

Further company coverage: (Gdynia Newsroom)

Nuestros Estándares:Los principios Thomson Reuters
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