Sempra Pipelines & Storage has agreed to acquire Ashmore Energy International’s (AEI) stake in two South American utilities jointly owned with AEI. The subsidiary of Sempra Energy will pay a total of $875 million for the acquisition. As part of the deal, Sempra will own 100% of Chilquinta Energia and about 76% of Luz del Sur. The buyer has also agreed to acquire AEI’s interests in two energy-services companies, Tecnored and Tecsur. The transaction is expected to be completed in second quarter of 2011.
Click here for the release from PR Newswire.