Business / Published May 24, 2021

Abastible announces sale of Gasmar

Through an Essential Fact sent to the CMF, Empresas Copec reported the information provided by its subsidiary Abastible regarding the subscription of a Share Purchase Agreement whereby it agreed to sell its total shareholding in Gasmar S.A. to Inversiones Arco 4 SpA, part of the Arroyo Energy Group.

Abastible’s interest in Gasmar amounts to 36.25% of Gasmar’s share capital, represented by 1,111,342,640 shares. To date, it has been preliminarily assessed that, at the closing of the deal, it will have a positive impact on Abastible’s results of approximately US$ 96.8 million before taxes.

The closing of the deal is subject to certain conditions precedent, including the corresponding approval by the National Economic Prosecutor’s Office, which is expected within the current year.

Considering Empresas Copec’s shareholding in Abastible, which to date is 99.2%, the impact on its financial statements will be of a similar amount.

To read the Essential Fact click here.