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Chile's Enap, Partners Team Up To Bid For Shell's Local Unit

SANTIAGO -(Dow Jones)- Chile's state-owned oil and gas company Empresa Nacional del Petroleo's joint venture with Peru's Romero Group, in conjunction with local businessman Alvaro Saieh, aims to purchase Royal Dutch Shell PLC's (RDSB.LN) Chilean unit, a person close to the matter said Friday, confirming local newspaper reports. "There is interest in buying Shell's assets. It would be an alliance between Enap, the Romero group and [Chile's] Saieh; we believe the purchase would create synergies," the person said. The sale of Shell's Chilean unit, which holds an approximately 17% market share, will likely cost $500 million, local newspaper La Tercera reported. The Luksic family, which controls U.K.-listed copper-mining company Antofagasta PLC (ANTO.LN, ANFGY), U.S.-listed beverage company Compania Cervecerias Unidas SA (CCU, CCU.SN) and Banco de Chile (BCH, CHILE.SN), is also reportedly bidding for Shell's Chilean assets. A spokeswoman for the Luskic family declined to comment. Enap, as the state-owned energy company is called, supplies about 80% of Chile's fuel needs and exports refined products to Peru, Ecuador and Central America. Saieh owns local bank CorpBanca (BCA, CORPBANCA.SN) and the Supermercados Unimarc SA supermarket chain. -By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929; anthony.esposito@dowjones.com

Stock News for Encore Energy Ptn (ENP)
DateTimeHeadline
06/06/201318:08:15Oman Oil to Enter Chile Gas Market in Partnership with Enagas
11/30/201218:02:36Chile Enap Reaches Agreement with BG Over Gas Supply Contract
11/12/201216:55:11Chile Enap, Endesa at Loggerheads with BG Over Gas Supply Contract
09/13/201215:36:35Correction on Story About Enagas Acquisition
09/13/201215:14:06Enagas Acquires 20% Stake in GNL Quintero From BG for $176 Million
06/01/201214:38:05Chile's ENAP Recovers Revoked Argentine Concession
04/17/201212:56:13Chile Finance Minister: Argentine Expropriation Won't Hurt Confidence...
04/17/201210:51:53Chile's Enap Argentine Operations Valued At $300 Million - Report
02/24/201208:36:11BG Group Considers Cutting Stake In Chilean Quintero LNG Plant
11/15/201108:00:15Chile GasAtacama Plans Offshore LNG Regasification Terminal...
11/10/201108:28:39Chile's Colbun Studying Developing LNG Gas Regasification Plant
11/07/201108:08:49Chile's Quintero LNG Plant To Increase Capacity 50% -Report
08/03/201113:04:10BG Group Ships 1 Million Barrels Of Crude From Brazil To Chile's...
05/09/201110:46:27Chile's ENAP To Abandon Geothermal Exploration, Development
01/28/201115:29:22Chile's Enap, Partners Team Up To Bid For Shell's Local Unit
11/24/201013:53:32Enel, Escondida, Colbun Bid For Chile Geothermal Concessions
11/23/201019:36:08Ecuador Signs New Oil Contracts; Some Companies To Leave
11/17/201009:31:37Vanguard To Buy Denbury's Stake In Encore Energy For $380 Million
08/19/201016:23:52Chile's GNL Quintero Hits Milestone, Matches Prior Gas Imports
05/19/201015:36:13Energy Minister: Enap Eyeing Terpel's Chilean Assets -Report

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