Bankinter | GNL Quintero is a Chilean company which owns a terminal for the reception, unloading, storing and regasificationof Liquified Natural Gas (LNG), located in the region of Valparaíso in Chile. The Spanish firm, via its affiliate Enagas Chile, and OMERS Infrastructure have reached an agreement to jointly sell off their respective stakes, which total 80%, in the Chilean company to the consortium formed by EIG and Fluxys. For its part, Enagas will sell its 45.4% stake in GNL Quintero for $661M (€601M).
In the opinion of our analyst team: Good news for Enagas. The sale is part of the process of rotating assets which it announced in its Strategic Plan. The Spanish group entered Quintero in 2012. The capital gains could be over €300M. The stake in the Chilean firm represents approximately 12% of Enagas’ market capitalisation.
