Naturgy sells Chilean unit to China’s State Grid for $3 bn

Naturgy said on Friday it had agreed to sell 96% of its Chilean utility Compania General de Electricidad to China’s State Grid International Development for 2.57 billion euros ($3.04 billion). The all-cash transaction, which is expected to be concluded by the end of February, comes as Chinese firms have increasingly invested in Chilean industries, from salmon farming to lithium production. China is Chile’s top trade partner. Source: Reuters