Gas Natural Fenosa Chile has announced that it recently reached an agreement with Trigas to purchase 8.33% of Metrogas S.A. for €116 million.
Following this acquisition, Gas Natural Fenosa’s stake in Metrogas will rise from 51.84% to 60.17%.
The Board of Directors will comprise five members appointed by Gasco, four by Copec and one appointed until now by Trigas who will subsequently be appointed by Gas Natural Fenosa Chile.
Metrogas is the leading gas distribution company in Chile, with close to 600 000 customers.
Edited from press release by Callum O'Reilly