Chile's Enap, Partners Team Up To Bid For Shell's Local Unit
January 28 2011 - 3:29PM
Dow Jones News
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
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