Canadian Algonquin closes IPO for Essal and will own ca. 94% of the Chilean firm

Algonquin Power & Utilities Corp. announced the closing of its Initial Public Offering for the shares of Empresa de Servicios Sanitarios de Los Lagos S.A. (Essal). Algonquin already owned 53.5% of the southern sanitation company after directly acquiring the percentage of Aguas Andinas on October 13 for $92.3 million. After completing today’s operation, Algonquin reached 93.96% ownership of Essal, bringing its total investment in Chile to $162.1 million.

Source: Emol