Business / Published August 3, 2021

Abastible closes Gasmar sale transaction

In an essential fact sent to the CMF, Empresas Copec reported the information provided by its subsidiary Abastible regarding the closing of the sale of its full 36.25% stake in Gasmar S.A. to Inversiones Arco 4 SpA, having received a payment for approximately US$ 117.6 million on Monday, August 2.

As reported by the Company on May 21, the transaction was subject to certain conditions precedent, including the approval of the National Economic Prosecutor’s Office, all of which are in full compliance.

According to preliminary estimates, the transaction will have a positive effect on Abastible’s earnings of approximately US$ 102.7 million before taxes.

Considering Empresas Copec’s shareholding in the subsidiary, which to date is 99.2%, the effects on its financial statements are expected to be of a similar amount.

To read the Essential Fact click here.