Sempra Energy announced that it has completed the sale of its Chilean businesses, generating approximately $2.23 billion in total cash proceeds, subject to post-closing adjustments. The sale to State Grid International Development Limited (SGID) includes Sempra Energy’s 100% stake in Chilquinta Energía S.A. (Chilquinta Energía).
The total number of workers covered by the Employment Protection Law reached 646,121, which already represents almost 11% of the country’s employees (6.1 million), according to the Superintendency of Pensions. In the week ending June 21 there was an increase of 22,620 workers, breaking the trend of deceleration that had been registered in the last three weeks.
Chilean casino operator Nueva Inversiones Pacífico Sur (IPS) has offered around R1.5 billion (US$86 million) for a 50.1% stake in Sun International Ltd. According to IPS, the move will help the South African company overcome the crisis caused by covid-19 and preserve jobs.
Nearly 65% of the water in Chile’s Salar de Atamaca region is used to pump out brines from drilled wells. This has caused groundwater depletion and pollution, forcing local quinoa farmers and llama herders to migrate and abandon settlements. It has also contributed to environment degradation, landscape damage and soil contamination, warned a report from the United Nations Conference on Trade and Development.
The International Monetary Fund has projected a 9.4% contraction of the GDP, worse than the 4.2% estimated in April. In a teleconference, the presidents of nine Latin American countries -including Chile- discussed with the senior executives of the IMF, the World Bank and the Inter-American Development Bank ways to handle the impact of the Covid-19 pandemic. The Latin American leaders asked for more solutions, including a “possible restructuring” of debt.