Chile regulator okays $3b Chinese takeover of Naturgy unit

Chile’s competition regulator on Wednesday approved a $3 billion takeover by China’s State Grid International Development of Spanish power company Naturgy’s Chilean unit Compania General de Electricidad (CGE).

Spain’s Naturgy said last November it had agreed to sell 96% of Chilean unit CGE to China’s State Grid for 2.57 billion euros ($3 billion), amid rising investment from the world’s second largest economy in South America.

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