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Business / Published July 23, 2020
Empresas Copec starts sale process for stake in Metrogas
At the Board meeting held on June 19, 2020, a plan to analyze the sale of the Company’s minority interests in Metrogas and in Aprovisionadora Global de Energia SA was agreed.
The decision to analyze the sale is based on the fact that they are non-controlling interests, 39.8% in both companies, and are estimated to be currently very attractive for certain types of investors.
“Therefore, and in the event that these sales are conducted, Empresas Copec estimates that they will have a positive impact on the Company’s results and financial position, without prejudice that at the moment they are not quantifiable,” said Empresas Copec CEO Eduardo Navarro in an Essential Fact.
JP Morgan will act as financial advisor in the sale process.