China's State Grid inks $3B deal for Chilean utility
November 16, 2020
China's State Grid International Development has agreed to acquire Chilean utility Compania General de Electricidad from Naturgy for €2.57 billion (about $3 billion) in cash. Including debt, the deal values CGE at about €4.3 billion. Naturgy has seen its earnings fall as the pandemic drove down gas prices and energy demand; the Spanish energy company expects a pre-tax gain of €400 million from the sale.